Dover (DOV) 10-Q 18 Oct 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	9 Months Ended
	Sep. 30, 2018	Oct. 11, 2018	Jun. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	DOVER Corp
Entity Central Index Key	29,905
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Public Float			$ 12,394,317,137
Entity Common Stock, Shares Outstanding		146,332,674
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Revenues	$ 1,747,403	$ 1,747,775	$ 5,183,168	$ 5,068,356
Cost of goods and services	1,100,883	1,098,582	3,268,583	3,189,202
Gross profit	646,520	649,193	1,914,585	1,879,154
Selling, General and Administrative Expense	426,445	410,040	1,290,246	1,257,027
Operating earnings	220,075	239,153	624,339	622,127
Interest Expense	31,192	35,372	98,957	108,585
Interest Income	(2,060)	(1,759)	(6,680)	(6,669)
Gain on sale of businesses	0	0	0	(90,093)
Other (income) expense, net	(2,073)	(1,236)	(6,641)	(1,407)
Earnings before provision for income taxes	193,016	206,776	538,703	611,711
Provision for income taxes	(35,711)	(47,321)	(105,533)	(154,693)
Earnings from continuing operations	157,305	159,455	433,170	457,018
Earnings (loss) from discontinued operations	0	19,457	(4,472)	58,199
Net earnings	$ 157,305	$ 178,912	$ 428,698	$ 515,217
Earnings per share from continuing operations
Earnings from continuing operations (in dollars per basic share)	$ 1.07	$ 1.02	$ 2.87	$ 2.94
Earnings from continuing operations (in dollars per diluted share)	1.05	1.01	2.82	2.90
Earnings (loss) per share from discontinued operations:
Earnings (loss) per share from discontinued operations (in dollars per basic share)	0	0.12	(0.03)	0.37
Earnings (loss) per share from discontinued operations (in dollars per diluted share)	0	0.12	(0.03)	0.37
Net earnings per share:
Net earnings (in dollars per basic share)	1.07	1.15	2.84	3.31
Net earnings (in dollars per diluted share)	$ 1.05	$ 1.14	$ 2.79	$ 3.27
Weighted average shares outstanding:
Weighted average shares outstanding - basic	147,344,000	155,757,000	151,177,000	155,668,000
Weighted average shares outstanding - diluted	149,457,000	157,555,000	153,429,000	157,565,000
Dividends paid per common share (in dollars per share)	$ 0.48	$ 0.47	$ 1.42	$ 1.35

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 157,305	$ 178,912	$ 428,698	$ 515,217
Foreign currency translation adjustments [Abstract]
Foreign currency translation (losses) gains	(13,567)	93,269	(26,418)	159,340
Reclassification of foreign currency translation losses to earnings	0	0	0	3,875
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax	0	0	0	(3,875)
Total foreign currency translation adjustment	(13,567)	93,269	(26,418)	163,215
Pension and other postretirement benefit plans [Abstract]
Amortization of actuarial losses included in net periodic pension cost	402	1,375	3,409	4,066
Amortization of prior service cost included in net periodic pension cost	704	700	2,699	2,104
Total pension and other postretirement benefit plans	1,106	2,075	6,108	6,170
Changes in fair value of cash flow hedges [Abstract]
Unrealized net (losses) gains arising during period	(1,449)	(192)	2,019	(1,989)
Net losses (gains) reclassified into earnings	364	(271)	(347)	(329)
Total cash flow hedges	(1,085)	(463)	1,672	(2,318)
Other comprehensive income loss other adjustment, net of tax	0	272	0	31
Other comprehensive (loss) earnings	(13,546)	95,153	(18,638)	167,098
Comprehensive earnings	$ 143,759	$ 274,065	$ 410,060	$ 682,315

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 209,277	$ 753,964
Receivables, net of allowances	1,283,775	1,183,514
Inventories	803,981	677,043
Prepaid and other current assets	162,016	175,626
Total current assets	2,459,049	2,790,147
Property, plant and equipment, net	806,737	787,940
Goodwill	3,719,598	3,686,372
Intangible assets, net	1,195,850	1,282,624
Other assets and deferred charges	280,536	245,723
Assets of discontinued operations	0	1,865,553
Total assets	8,461,770	10,658,359
Current liabilities:
Notes payable and current maturities of long-term debt	298,659	581,102
Accounts payable	948,640	882,007
Accrued compensation and employee benefits	215,128	228,118
Accrued insurance	99,001	101,619
Other accrued expenses	312,577	334,435
Federal and other income taxes	16,300	14,697
Total current liabilities	1,890,305	2,141,978
Long-term debt	2,981,923	2,986,702
Deferred income taxes	330,888	348,201
Noncurrent income tax payable	98,954	108,497
Other liabilities	411,766	425,548
Liabilities of discontinued operations	0	264,253
Stockholders' Equity:
Total stockholders' equity	2,747,934	4,383,180
Total liabilities and stockholders' equity	$ 8,461,770	$ 10,658,359

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Allowance for doubtful accounts receivable	$ 29,760	$ 34,479

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (unaudited) - 9 months ended Sep. 30, 2018 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive (Loss) Earnings
Balance at Dec. 31, 2017	$ 4,383,180	$ 256,992	$ 942,485	$ (5,077,039)	$ 8,455,501	$ (194,759)
Net earnings	428,698	0	0	0	428,698	0
Dividends paid	(213,126)	0	0	0	(213,126)	0
Separation of Apergy	(906,815)	0	0	0	(939,743)	32,928
Common stock issued for the exercise of share-based awards	(44,443)	783	(45,226)	0	0	0
Share-based compensation expense	16,590	0	16,590	0	0	0
Common stock acquired, including accelerated share repurchase program	(892,771)	0	(140,000)	(752,771)	0	0
Other comprehensive loss, net of tax	(18,638)	0	0	0	0	(18,638)
Other, net	(4,916)	0	(4,916)	0	0	0
Balance at Sep. 30, 2018	2,747,934	257,775	768,933	(5,829,810)	7,744,361	(193,325)
Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2018-02 [Member]	0	0	0	0	12,856	(12,856)
Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2014-09 [Member]	$ 175	$ 0	$ 0	$ 0	$ 175	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Preferred stock, par value per share	$ 100	$ 100
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 1	$ 1

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Operating Activities
Net earnings	$ 428,698	$ 515,217
Loss (earnings) from discontinued operations	4,472	(58,199)
Adjustments to reconcile net earnings to cash from operating activities:
Depreciation and amortization	206,018	212,161
Share-based compensation expense	15,846	19,878
Gain on sale of businesses	0	(90,093)
Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):
Accounts receivable, net	(119,687)	(64,803)
Inventories	(130,351)	(65,682)
Prepaid expenses and other assets	(34,604)	(2,806)
Accounts payable	87,898	66,734
Accrued compensation and employee benefits	(17,101)	2,624
Accrued expenses and other liabilities	(8,169)	(44,177)
Accrued and deferred taxes, net	(390)	(38,459)
Other, net	(13,946)	1,602
Net cash provided by operating activities	418,684	453,997
Investing Activities
Additions to property, plant and equipment	(134,556)	(130,362)
Acquisitions, net of cash and cash equivalents acquired	(68,557)	(25,568)
Proceeds from sale of property, plant, and equipment	4,681	5,989
Proceeds from sale of businesses	2,069	121,175
Other	(13,762)	21,151
Net cash (used in) provided by investing activities	(210,125)	(7,615)
Financing Activities
Cash received from Apergy, net of cash distributed	689,643	0
Repurchase of common stock, including prepayment under an accelerated share repurchase program	(892,771)	0
Change in commercial paper and notes payable	67,617	(279,927)
Dividends paid to stockholders	(213,126)	(210,549)
Payments to settle employee tax obligations on exercise of share-based awards	(44,443)	(13,812)
Repayments of long-term debt	(350,000)	0
Other	(6,233)	(2,913)
Net cash used in by financing activities	(749,313)	(507,201)
Cash Provided by (Used in) Operating Activities, Discontinued Operations	15,790	57,882
Cash Provided by (Used in) Investing Activities, Discontinued Operations	(23,705)	(26,790)
Net Cash Provided by (Used in) Discontinued Operations	(7,915)	31,092
Effect of Exchange Rate on Cash and Cash Equivalents	3,982	2,620
Net (decrease) increase in cash and cash equivalents	(544,687)	(27,107)
Cash and cash equivalents at beginning of period	753,964	349,146
Cash and cash equivalents at end of period	$ 209,277	$ 322,039

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for interim periods and do not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements. These unaudited interim Condensed Consolidated Financial Statements should therefore be read in conjunction with the Consolidated Financial Statements and Notes for Dover Corporation ("Dover" or the "Company") for the year ended December 31, 2017 , included in the Company's Annual Report on Form 10-K/A filed with the SEC on February 16, 2018. The year end Condensed Consolidated Balance Sheet was derived from audited financial statements. Certain amounts in the prior periods have been reclassified to conform to the current year presentation. On May 9, 2018, the Company completed a pro-rata distribution of the common stock of Apergy Corporation ("Apergy") to the Company's shareholders of record as of the close of business on April 30, 2018. Apergy holds entities conducting upstream energy businesses previously included in the Energy segment. As discussed in Note 5 - Discontinued and Disposed Operations, the Apergy businesses met the criteria to be reported as discontinued operations because the spin-off is a strategic shift in business that has a major effect on the Company's operations and financial results. Therefore, the Company is reporting the historical results of Apergy, including the results of operations, cash flows, and related assets and liabilities, as discontinued operations for all periods presented herein. Subsequent to the spin-off of Apergy, effective the second quarter of 2018, the Company no longer has the Energy segment and is aligned into three reportable segments. See Note 17 —Segment Information for additional information regarding the updated segments, including segment results for the three and nine months ended September 30, 2018 and 2017 . Unless otherwise noted, the accompanying Notes to the Consolidated Financial Statements have all been revised to reflect the effect of the separation of Apergy and all prior year balances have been revised accordingly to reflect continuing operations only. The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future, actual results may differ from those estimates. The Condensed Consolidated Financial Statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair statement of results for these interim periods. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year.

Spin-off of Apergy Corporation

Spin-off of Apergy Corporation (Notes)	9 Months Ended
	Sep. 30, 2018
Spin-off of Apergy Corporation [Abstract]
Spin-Off of Apergy Corporation [Text Block]	2. Spin-off of Apergy Corporation On May 9, 2018, Dover completed the distribution of Apergy to its shareholders. The transaction was completed through the pro rata distribution of 100% of the common stock of Apergy to Dover's shareholders of record as of the close of business on April 30, 2018. Each Dover shareholder received one share of Apergy common stock for every two shares of Dover common stock held as of the record date. The following is a summary of the assets and liabilities transferred to Apergy as part of the separation on May 9, 2018: Assets: Cash and cash equivalents $ 10,357 Current assets 462,620 Non-current assets 1,438,760 $ 1,911,737 Liabilities: Current liabilities $ 185,354 Non-current liabilities 119,568 $ 304,922 Net assets distributed to Apergy Corporation $ 1,606,815 Less: Cash received from Apergy Corporation 700,000 Net distribution to Apergy Corporation $ 906,815 In connection with the spin-off from the company, Apergy issued and sold $300.0 million in aggregate principal amount of its 6.375% senior notes due May 2026 in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended, and incurred $415.0 million in borrowings under its new senior secured term loan facility to fund a one-time cash payment of $700.0 million to Dover. Dover received net cash of $689.6 million upon separation, which reflects $10.4 million of cash held by Apergy on the distribution date and retained by it in connection with its separation from Dover. Dover utilized the proceeds from Apergy as the primary source of funding for $1 billion of share repurchases started in December 2017. See Note 18 — Share Repurchases for further information. Included within the net assets distributed to Apergy is approximately $33 million of accumulated other comprehensive earnings attributable to Apergy, relating primarily to foreign currency translation gains, offset by unrecognized losses on pension obligations. The historical results of Apergy, including the results of operations, cash flows, and related assets and liabilities have been reclassified to discontinued operations for all periods presented herein. See Note 5 — Discontinued and Disposed Operations . Pursuant to the separation of Apergy from Dover, and the related separation and distribution agreements, any liabilities due from Dover to Apergy are not significant and will be paid in the near future.

Revenue Revenue

Revenue Revenue	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	3. Revenue Revenue from contracts with customers Effective January 1, 2018, the Company adopted Accounting Standard Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("Topic 606” or “ASC 606”), using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Accordingly, all periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition ("Topic 605” or “ASC 605”). Under Topic 606, a contract with a customer is an agreement which both parties have approved, that creates enforceable rights and obligations, has commercial substance and where payment terms are identified and collectability is probable. Once the Company has entered a contract, it is evaluated to identify performance obligations. For each performance obligation, revenue is recognized as control of promised goods or services transfers to the customer in an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. The amount of revenue recognized takes into account variable consideration, such as discounts and volume rebates. A majority of the Company’s revenue is short cycle in nature with shipments within one year from order. A small portion of the Company’s revenue derives from contracts extending over one year. The Company's payment terms generally range between 30 to 90 days and vary by the location of businesses, the type of products manufactured to be sold and the volume of products sold, among other factors. Disaggregation of Revenue Revenue from contracts with customers is disaggregated by end markets, segments and geographic location, as it best depicts the nature and amount of the Company’s revenue. The following table presents revenue disaggregated by end market and segment: Three Months Ended September 30, Nine Months Ended September 30, 2018 2018 Printing & Identification $ 283,232 $ 865,588 Industrials 388,302 1,180,561 Total Engineered Systems segment 671,534 2,046,149 Fueling & Transport 367,617 1,050,276 Pumps 167,542 503,157 Process Solutions 154,906 458,396 Total Fluids segment 690,065 2,011,829 Refrigeration 328,281 937,168 Food Equipment 57,933 189,047 Total Refrigeration & Food Equipment segment 386,214 1,126,215 Intra-segment eliminations (410 ) (1,025 ) Total Consolidated Revenue $ 1,747,403 $ 5,183,168 The following table presents revenue disaggregated by geography based on the location of the Company's customer: Three Months Ended September 30, Nine Months Ended September 30, 2018 2018 United States $ 922,261 $ 2,707,470 Europe 369,479 1,158,891 Asia 219,645 633,280 Other Americas 166,182 467,523 Other 69,836 216,004 Total $ 1,747,403 $ 5,183,168 The majority of revenue from our Engineered Systems, Fluids and Refrigeration and Food Equipment segments is generated from sales to customers within the United States and Europe. Each segment also generates revenue across the other geographies, with no significant concentration of any segment’s remaining revenue. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service, or a bundle of goods or services, to the customer, and is the unit of accounting under ASC Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. A majority of the Company’s contracts have a single performance obligation which represents, in most cases, the equipment or product being sold to the customer. Some contracts include multiple performance obligations such as a product and the related installation, extended warranty and/or maintenance services. These contracts require judgment in determining the number of performance obligations. The Company has elected to use the practical expedient to not adjust the promised amount of consideration for the effects of a significant financing component if it is expected, at contract inception, that the period between when Dover transfers a promised good or service to a customer, and when the customer pays for that good or service, will be one year or less. Thus, the Company may not consider an advance payment to be a significant financing component, if it is received less than one year before product completion. The majority of the Company’s contracts offer assurance-type warranties in connection with the sale of a product to a customer. Assurance-type warranties provide a customer with assurance that the related product will function as the parties intended because it complies with agreed-upon specifications. Such warranties do not represent a separate performance obligation. The Company may also offer service-type warranties that provide services to the customer, in addition to the assurance that the product complies with agreed-upon specifications. If a warranty is determined to be a service-type warranty, it represents a distinct service and is treated as a separate performance obligation. For contracts with multiple performance obligations, the Company allocates the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. The Company uses an observable price to determine the stand-alone selling price for separate performance obligations or a cost plus margin approach when one is not available. Over 95% of the Company’s performance obligations are recognized at a point in time that relate to the manufacture and sale of a broad range of products and components. Revenue is recognized when control transfers to the customer upon shipment or completion of installation, testing, certification, or other substantive acceptance provisions required under the contract. Less than 5% of the Company’s revenue is recognized over time and relates to the sale of engineered to order equipment or services. For revenue recognized over time, there are two types of methods for measuring progress and both are relevant to the Company: (1) input methods and (2) output methods. Although this may vary by business, input methods generally are based on costs incurred relative to estimated total costs. Output methods generally are based on a measurement of progress, such as milestone achievement. The businesses use the method and measure of progress that best depicts the transfer of control to the customer of the goods or services to date relative to the remaining goods or services promised under the contract. Transaction Price Allocated to the Remaining Performance Obligations At September 30, 2018 , we estimated that $71.6 million in revenue is expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. We expect to recognize approximately 56% of our unsatisfied (or partially unsatisfied) performance obligations as revenue in 2019 , with the remaining balance to be recognized in 2020 and thereafter. Remaining consideration, including variable consideration, from contracts with customers is included in the amounts presented above and primarily consists of extended warranties on products and multi-year maintenance agreements, which are typically recognized as the performance obligation is satisfied. The Company applied the standard's practical expedient that permits the omission of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which the Company has the right to invoice for services performed. Contract Balances The following table provides information about contract assets and contract liabilities from contracts with customers: September 30, 2018 At Adoption Contract assets $ 16,202 $ 11,932 Contract liabilities - current 43,075 48,268 Contract liabilities - non-current 9,617 9,916 Contract assets primarily relate to the Company's right to consideration for work completed but not billed at the reporting date and are recorded in prepaid and other current assets in the Condensed Consolidated Balance Sheet. Contract assets are transferred to receivables when the right to consideration becomes unconditional. Contract liabilities relate to advance consideration received from customers for which revenue has not been recognized. Current contract liabilities are recorded in other accrued expenses and non-current contract liabilities are recorded in other liabilities in the Condensed Consolidated Balance Sheet. Contract liabilities are reduced when the associated revenue from the contract is recognized. Significant changes in contract assets and liabilities balances during the period are as follows: Contract Assets Opening balance at January 1, 2018 $ 11,932 Cumulative catch-up adjustment upon transition 701 Changes in the estimate of the stage of completion 10,870 Transferred to receivables from contract assets recognized during the period (7,255 ) Other (46 ) Closing balance at September 30, 2018 $ 16,202 Contract Liabilities Opening balance at January 1, 2018 $ 58,184 Cumulative catch-up adjustment upon transition — Revenue recognized that was included in the contract liability balance at the beginning of the period (52,730 ) Increases due to cash received, excluding amounts recognized as revenue during the period 47,880 Other (642 ) Closing balance at September 30, 2018 $ 52,692 Contract Costs Costs incurred to obtain a customer contract are not material to the Company. The Company elected to apply the practical expedient to not capitalize contract costs to obtain contracts with a duration of one year or less, which are expensed and included within cost of goods and services in the Condensed Consolidated Statements of Earnings. Critical Accounting Estimates Estimates are used to determine the amount of variable consideration in contracts, the standalone selling price among separate performance obligations and the measure of progress for contracts where revenue is recognized over time. The Company reviews and updates these estimates regularly. Some contracts with customers include variable consideration primarily related to volume rebates. The Company estimates variable consideration at the most likely amount to determine the total consideration which the Company expects to be entitled. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company’s estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historical, current and forecasted) that is reasonably available. Changes in Accounting Policies The Company adopted Topic 606, effective January 1, 2018, using the modified retrospective method applying Topic 606 to contracts that are not complete as of the date of initial application. Under the modified retrospective method, the cumulative effect of applying the standard has been recognized at the date of initial application, January 1, 2018. The comparative information has not been adjusted and continues to be reported under Topic 605. The Company's accounting policy has been updated to align with Topic 606, and no significant changes to revenue recognition have occurred as a result of the change. Shipping and handling charges are not considered a separate performance obligation. If revenue is recognized for the related good before the shipping and handling activities occur, the related costs of those shipping and handling activities must be accrued. Additionally, all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) are excluded from revenue. The Company's policy elections related to shipping and handling and taxes have not changed with the adoption of Topic 606. Under Topic 605, revenue was generally recognized when all of the following criteria were met: a) persuasive evidence of an arrangement exists, b) price is fixed or determinable, c) collectability is reasonably assured and d) delivery has occurred or services have been rendered. The majority of the Company's revenue is generated through the manufacture and sale of a broad range of specialized products and components and revenue was recognized upon transfer of title and risk of loss, which was generally upon shipment. In limited cases, the Company's revenue arrangements with customers required delivery, installation, testing, certification, or other acceptance provisions to be satisfied before revenue was recognized. The Company included shipping costs billed to customers in Revenue and the related shipping costs in Cost of goods and services. Impact on Financial Statements The adoption of Topic 606 impacted certain contracts for highly customized customer products that have no alternative use and in which the contract specifies the Company has a right to payment for its costs, plus a reasonable margin. For these contracts, the Company now recognizes revenue over time based on the method and measure of progress that best depicts the transfer of control to the customer of the goods or services to date relative to the remaining goods or services promised under the contract. The Company recorded a cumulative catch-up adjustment to retained earnings at January 1, 2018 for $0.2 million , related to the impact of adopting Topic 606 under the modified retrospective method. The impact of adopting Topic 606 was not material to the Company’s consolidated financial statements as of and for the three and nine months ended September 30, 2018 .

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Acquisitions	4. Acquisitions 2018 Acquisitions During the nine months ended September 30, 2018 , the Company acquired two businesses in separate transactions for total consideration of $68,557 , net of cash acquired. These businesses were acquired to complement and expand upon existing operations within the Fluids and Refrigeration & Food Equipment segments. The goodwill recorded as a result of these acquisitions reflects the benefits expected to be derived from product line expansions and operational synergies. The goodwill is non-deductible for U.S. federal income tax purposes for these acquisitions. On January 2, 2018, the Company acquired 100% of the voting stock of Ettlinger Group ("Ettlinger"), within the Fluids segment for $53,218 , net of cash acquired. In connection with this acquisition, the Company recorded goodwill of $36,493 and intangible assets of $19,907 , primarily related to customer intangibles. The intangible assets are being amortized over 8 to 15 years. On January 12, 2018, the Company acquired 100% of the voting stock of Rosario Handel B.V. ("Rosario"), within the Refrigeration & Food Equipment segment for total consideration of $15,339 , net of cash acquired. In connection with this acquisition, the Company recorded goodwill of $10,402 and a customer intangible asset of $4,149 . The customer intangible asset is being amortized over 10 years. 2017 Acquisitions During the nine months ended September 30, 2017 , the Company acquired Caldera Graphics S.A.S. ("Caldera") within the Engineered Systems segment for $32,680 , net of cash acquired and including contingent consideration. In connection with this acquisition, the Company recorded goodwill of $24,649 and intangible assets of $8,169 , primarily related to customer intangibles. The goodwill is non-deductible for U.S. federal income tax purposes. The intangible assets are being amortized over 7 to 15 years. Pro Forma Information The following unaudited pro forma information illustrates the impact of 2018 and 2017 acquisitions on the Company’s revenue and earnings from operations for the nine months ended September 30, 2018 and 2017 , respectively. In the year 2017 , the Company acquired two businesses in separate transactions for total net consideration of $34,300 . The unaudited pro forma information assumes that the 2018 and 2017 acquisitions had taken place at the beginning of the prior year, 2017 and 2016 , respectively. Unaudited pro forma earnings are adjusted to reflect the comparable impact of additional depreciation and amortization expense, net of tax, resulting from the fair value measurement of intangible and tangible assets relating to the year of acquisition. The unaudited pro forma effects for the three and nine months ended September 30, 2018 and 2017 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Revenue: As reported $ 1,747,403 $ 1,747,775 $ 5,183,168 $ 5,068,356 Pro forma 1,747,403 1,756,565 5,183,484 5,097,953 Earnings: As reported $ 157,305 $ 159,455 $ 433,170 $ 457,018 Pro forma 157,097 160,686 436,811 456,833 Basic earnings per share: As reported $ 1.07 $ 1.02 $ 2.87 $ 2.94 Pro forma 1.07 1.03 2.89 2.93 Diluted earnings per share: As reported $ 1.05 $ 1.01 $ 2.82 $ 2.90 Pro forma 1.05 1.02 2.85 2.90

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operations	5. Discontinued and Disposed Operations Discontinued Operations The Apergy businesses, as discussed in Note 2, met the criteria to be reported as discontinued operations because the spin-off is a strategic shift in business that has a major effect on the Company's operations and financial results. Therefore, the results of discontinued operations for the three and nine months ended September 30, 2018 and 2017 include the historical results of Apergy prior to its distribution on May 9, 2018. The three and nine months ended September 30, 2018 included costs incurred by Dover to complete the spin-off of Apergy amounting to $0 and $46,384 , respectively, reflected in selling, general and administrative expenses in discontinued operations. The spin-off costs for the three and nine months ended September 30, 2017 were both at $1,721 . See Note 2 Spin-off of Apergy Corporation for further information. Summarized results of the Company's discontinued operations are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Revenue $ — $ 258,649 $ 403,688 $ 745,079 Cost of goods and services — 163,509 254,205 469,280 Gross profit — 95,140 149,483 275,799 Selling, general and administrative expenses — 64,170 144,114 186,517 Operating earnings — 30,970 5,369 89,282 Other expense, net — 318 349 802 Earnings from discontinued operations before taxes — 30,652 5,020 88,480 Provision for income taxes — 11,195 9,492 30,281 Earnings (loss) from discontinued operations, net of tax $ — $ 19,457 $ (4,472 ) $ 58,199 Assets and liabilities of discontinued operations are summarized below: December 31, 2017 Assets of Discontinued Operations Accounts receivable $ 202,052 Inventories, net 201,591 Prepaid and other current assets 14,035 Total current assets 417,678 Property, plant and equipment, net 211,832 Goodwill and intangible assets, net 1,232,843 Other assets and deferred charges 3,200 Total assets $ 1,865,553 Liabilities of Discontinued Operations Accounts payable $ 97,439 Other current liabilities 59,482 Total current liabilities 156,921 Deferred income taxes 90,641 Other liabilities 16,691 Total liabilities $ 264,253 On May 9, 2018, all assets and liabilities of Apergy were spun-off. Therefore, as of September 30, 2018 , there were no assets and liabilities classified as discontinued operations. Disposed Operations 2018 There were no other dispositions aside from the spin-off of Apergy during the nine months ended September 30, 2018 . 2017 On February 14, 2017, the Company completed the sale of Performance Motorsports International ("PMI"), which was a wholly owned subsidiary of the Company that manufactures pistons and other engine related components serving the motorsports and powersports markets. Total consideration for the transaction was $147,313 , including cash proceeds of $118,706 . We recognized a pre-tax gain on sale of $88,402 for the nine months ended September 30, 2017 within gain on sale of businesses in the Condensed Consolidated Statements of Earnings and recorded a 25% equity method investment at fair value of $18,607 as well as a subordinated note receivable of $10,000 . During the nine months ended September 30, 2017 , the Company recorded a working capital adjustment for the sale of Tipper Tie in the fourth quarter of 2016 for $1,691 . This adjustment is included within gain on sale of businesses in the Condensed Consolidated Statements of Earnings. These disposals did not represent strategic shifts in operations and, therefore, did not qualify for presentation as discontinued operations.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2018
Inventory, Net [Abstract]
Inventory Disclosure	6. Inventories September 30, 2018 December 31, 2017 Raw materials $ 409,217 $ 400,009 Work in progress 177,567 128,296 Finished goods 330,147 251,402 Subtotal 916,931 779,707 Less reserves (112,950 ) (102,664 ) Total $ 803,981 $ 677,043

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure	7. Property, Plant and Equipment, net September 30, 2018 December 31, 2017 Land $ 54,060 $ 54,918 Buildings and improvements 523,624 517,049 Machinery, equipment and other 1,549,991 1,472,852 Property, plant and equipment, gross 2,127,675 2,044,819 Total accumulated depreciation (1,320,938 ) (1,256,879 ) Property, plant and equipment, net $ 806,737 $ 787,940 Depreciation expense totaled $32,514 and $34,663 for the three months ended September 30, 2018 and 2017 , respectively. For the nine months ended September 30, 2018 and 2017 , depreciation expense was $97,625 and $98,812 , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	8. Goodwill and Other Intangible Assets ASC 350, “Intangibles - Goodwill and Other Intangibles” provides guidance on an entity's subsequent measurement and subsequent recognition of goodwill and other intangibles, including subsequent changes to carrying amounts, including impairment and fair value adjustments. In accordance with the guidance set forth in ASC 350, and in connection with the separation of Apergy, the Company was required to calculate the portion of goodwill included in the Apergy distribution. Using a relative fair value approach, the Company reallocated $3,546 of goodwill from a reporting unit that included Apergy to a reporting unit now included within the Engineered Systems segment. Refer to See Note 17 —Segment Information for further information. Further, the Company realigned its remaining businesses and reallocated goodwill among its reporting units based on their relative fair value and tested goodwill for impairment in the second quarter of 2018. The Company concluded that no impairment indicators exist. The changes in the carrying value of goodwill by reportable operating segments were as follows: Engineered Systems Fluids Refrigeration & Food Equipment Total Balance at December 31, 2017 $ 1,645,389 $ 1,504,284 $ 536,699 $ 3,686,372 Reallocation due to Apergy separation 3,546 — — 3,546 Acquisitions — 36,493 10,402 46,895 Purchase price adjustments 328 — — 328 Foreign currency translation (6,483 ) (10,627 ) (433 ) (17,543 ) Balance at September 30, 2018 $ 1,642,780 $ 1,530,150 $ 546,668 $ 3,719,598 During the nine months ended September 30, 2018 , the Company recorded additions of $46,895 to goodwill as a result of the acquisitions discussed in Note 4 — Acquisitions . The net goodwill transferred to Apergy on May 9, 2018 amounted to $899,888 . The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows: September 30, 2018 December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Customer intangibles $ 1,416,686 $ 628,959 $ 787,727 $ 1,405,361 $ 559,447 $ 845,914 Trademarks 217,289 69,224 148,065 217,621 58,523 159,098 Patents 145,357 127,590 17,767 145,577 123,135 22,442 Unpatented technologies 157,394 82,670 74,724 152,913 71,284 81,629 Distributor relationships 85,202 36,874 48,328 85,794 32,092 53,702 Drawings & manuals 32,832 23,175 9,657 32,739 20,767 11,972 Other 28,346 15,534 12,812 23,095 12,028 11,067 Total 2,083,106 984,026 1,099,080 2,063,100 877,276 1,185,824 Unamortized intangible assets: Trademarks 96,770 — 96,770 96,800 — 96,800 Total intangible assets, net $ 2,179,876 $ 984,026 $ 1,195,850 $ 2,159,900 $ 877,276 $ 1,282,624 Amortization expense was $35,576 and $37,870 , respectively, including acquisition-related intangible amortization of $35,258 and $37,324 for the three months ended September 30, 2018 and 2017 , respectively. For the nine months ended September 30, 2018 and 2017 , amortization expense was $108,393 and $113,349 , respectively, including acquisition-related intangible amortization of $107,092 and $111,722 , respectively.

Restructuring Activities

Restructuring Activities	9 Months Ended
	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure	9. Restructuring Activities The Company's restructuring charges by segment were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Engineered Systems $ 10,637 $ 926 $ 13,872 $ 2,744 Fluids 10,473 2,403 16,021 6,910 Refrigeration & Food Equipment 452 1,185 598 2,710 Corporate 2,639 — 5,932 — Total $ 24,201 $ 4,514 $ 36,423 $ 12,364 These amounts are classified in the Condensed Consolidated Statements of Earnings as follows: Cost of goods and services $ 3,586 $ 1,840 $ 7,985 $ 6,075 Selling, general and administrative expenses 20,615 2,674 28,438 6,289 Total $ 24,201 $ 4,514 $ 36,423 $ 12,364 The restructuring expenses of $24,201 and $36,423 incurred during the three and nine months ended September 30, 2018 , respectively, were related to restructuring programs initiated during 2018 and 2017 . Restructuring expense includes $24,201 and $34,058 related to rightsizing restructuring programs for the three and nine months ended September 30, 2018 , respectively. The current quarter rightsizing programs were comprised primarily of broad-based selling, general and administrative expense reduction initiatives designed to increase operating margin, enhance operations and position the Company for sustained growth and investment. The first half of the year rightsizing programs were largely initiated in the fourth quarter of 2017 and designed to better align the Company's cost structure in preparation for the Apergy separation and included targeted facility consolidations, headcount reductions and other measures to further optimize operations. The rightsizing actions taken due to the Apergy separation are substantially complete. The Company expects to incur total charges of approximately $39 million related to selling, general and administrative expense reduction initiatives, $21 million of which was incurred during the three months ended September 30, 2018 and $18 million of which the Company expects to incur during the fourth quarter of 2018 and into the first half of 2019. The $24,201 of restructuring charges incurred during the third quarter of 2018 primarily included the following items: • The Engineered Systems segment recorded $10,637 of restructuring charges related to programs focused on headcount reduction. • The Fluids segment recorded $10,473 of restructuring charges principally related to headcount reductions and facility restructuring costs, focused on achieving acquisition integration benefits. • The Refrigeration and Food Equipment segment recorded $452 of restructuring expense primarily due to headcount reductions and facility restructuring costs. • Corporate recorded $2,639 of restructuring charges primarily related to headcount reductions. The Company’s severance and exit accrual activities were as follows: Severance Exit Total Balance at December 31, 2017 $ 25,681 $ 5,591 $ 31,272 Restructuring charges 31,786 4,637 36,423 Payments (31,100 ) (7,483 ) (38,583 ) Other, including foreign currency translation (934 ) (288 ) (1) (1,222 ) Balance at September 30, 2018 $ 25,433 $ 2,457 $ 27,890 (1) Other activity in exit reserves primarily represents the non-cash write-off of certain long-lived assets and inventory in connection with certain facility closures and product exits.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Borrowings	10. Borrowings Borrowings consisted of the following: September 30, 2018 December 31, 2017 Short-term Current portion of long-term debt and short-term borrowings $ 59 $ 350,402 Commercial paper 298,600 230,700 Notes payable and current maturities of long-term debt $ 298,659 $ 581,102 Carrying amount (1) Principal September 30, 2018 December 31, 2017 Long-term 5.45% 10-year notes due March 15, 2018 $ 350,000 $ — $ 349,918 2.125% 7-year notes due December 1, 2020 (euro-denominated) € 300,000 352,119 354,349 4.30% 10-year notes due March 1, 2021 $ 450,000 449,108 448,831 3.150% 10-year notes due November 15, 2025 $ 400,000 395,200 394,695 1.25% 10-year notes due November 9, 2026 (euro-denominated) € 600,000 696,793 701,058 6.65% 30-year debentures due June 1, 2028 $ 200,000 199,029 198,954 5.375% 30-year debentures due October 15, 2035 $ 300,000 295,748 295,561 6.60% 30-year notes due March 15, 2038 $ 250,000 247,798 247,713 5.375% 30-year notes due March 1, 2041 $ 350,000 343,808 343,600 Other 2,320 2,034 Total long-term debt 2,981,923 3,336,713 Less long-term debt current portion — (350,011 ) Net long-term debt $ 2,981,923 $ 2,986,702 (1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts were $16.4 million and $17.6 million as of September 30, 2018 and December 31, 2017 , respectively. Total deferred debt issuance costs were $13.5 million and $14.9 million as of September 30, 2018 and December 31, 2017 , respectively. On March 15, 2018, the outstanding 5.45% notes with a principal value of $350.0 million matured. The repayment of debt was funded by the Company's commercial paper program and through a reduction of existing cash balances. The Company maintains a $1.0 billion five-year unsecured revolving credit facility (the "Credit Agreement") with a syndicate of banks which expires on November 10, 2020 . The Company was in compliance with all covenants in the Credit Agreement and other long-term debt covenants at September 30, 2018 and had a coverage ratio of 10.2 to 1.0. The Company uses the Credit Agreement as liquidity back-up for its commercial paper program and has not drawn down any loans under the facility and does not anticipate doing so. The Company generally uses commercial paper borrowings for general corporate purposes, funding of acquisitions and repurchases of its common stock. As of September 30, 2018 , the Company had approximately $142.3 million outstanding in letters of credit and performance and other guarantees which expire on various dates in 2018 through 2028 . These letters of credit are primarily maintained as security for insurance, warranty and other performance obligations. In general, we would only be liable for the amount of these guarantees in the event of default in the performance of our obligations.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	11. Financial Instruments Derivatives The Company is exposed to market risk for changes in foreign currency exchange rates due to the global nature of its operations and certain commodity risks. In order to manage these risks, the Company has hedged portions of its forecasted sales and purchases to occur within the next twelve months that are denominated in non-functional currencies, with currency forward contracts designated as cash flow hedges. At September 30, 2018 and December 31, 2017 , the Company had contracts with U.S. dollar equivalent notional amounts of $205,850 and $115,580 , respectively, to exchange foreign currencies, principally the Pound Sterling, Chinese Yuan, Swedish Krona, Swiss Franc, Canadian Dollar and Euro. The Company believes it is probable that all forecasted cash flow transactions will occur. In addition, the Company had outstanding contracts with a total notional amount of $98,008 and $59,952 as of September 30, 2018 and December 31, 2017 , respectively, that are not designated as hedging instruments. These instruments are used to reduce the Company's exposure for operating receivables and payables that are denominated in non-functional currencies. Gains and losses on these contracts are recorded in other (income) expense, net in the Condensed Consolidated Statements of Earnings. The following table sets forth the fair values of derivative instruments held by the Company as of September 30, 2018 and December 31, 2017 and the balance sheet lines in which they are recorded: Fair Value Asset (Liability) September 30, 2018 December 31, 2017 Balance Sheet Caption Foreign currency forward $ 3,158 $ 358 Prepaid / Other current assets Foreign currency forward (1,456 ) (2,243 ) Other accrued expenses For a cash flow hedge, the effective portion of the change in estimated fair value of a hedging instrument is recorded in accumulated other comprehensive loss as a separate component of the Condensed Consolidated Statement of Stockholders' Equity and is reclassified into revenues and cost of goods and services in the Condensed Consolidated Statements of Earnings during the period in which the hedged transaction is recognized. The amount of gains or losses from hedging activity recorded in earnings is not significant, and the amount of unrealized gains and losses from cash flow hedges that are expected to be reclassified to earnings in the next twelve months is not significant; therefore, additional tabular disclosures are not presented. There are no amounts excluded from the assessment of hedge effectiveness and the Company's derivative instruments that are subject to credit risk contingent features were not significant. The Company is exposed to credit loss in the event of nonperformance by counterparties to the financial instrument contracts held by the Company; however, nonperformance by these counterparties is considered unlikely as the Company’s policy is to contract with highly-rated, diversified counterparties. The Company has designated the €600,000 and €300,000 of euro-denominated notes issued November 9, 2016 and December 4, 2013, respectively, as hedges of a portion of its net investment in euro-denominated operations. Changes in the value of the euro-denominated debt are recognized in foreign currency translation adjustments within other comprehensive (loss) earnings of the Condensed Consolidated Statements of Comprehensive Earnings to offset changes in the value of the net investment in euro-denominated operations. Amounts recognized in other comprehensive (loss) earnings for the gains (losses) on net investment hedges were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Loss) gain on euro-denominated debt $ (6,155 ) $ (58,419 ) $ 7,734 $ (124,258 ) Tax benefit (expense) 1,293 20,446 (1,624 ) 43,490 Net (loss) gain on net investment hedges, net of tax $ (4,862 ) $ (37,973 ) $ 6,110 $ (80,768 ) Fair Value Measurements ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy that requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. ASC 820 establishes three levels of inputs that may be used to measure fair value. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs include inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities. Level 3 inputs are unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 Level 2 Level 2 Assets: Foreign currency cash flow hedges $ 3,158 $ 358 Liabilities: Foreign currency cash flow hedges 1,456 2,243 In addition to fair value disclosure requirements related to financial instruments carried at fair value, accounting standards require interim disclosures regarding the fair value of all of the Company’s financial instruments. The estimated fair value of long-term debt, net at September 30, 2018 and December 31, 2017 , was $3,162,629 and $3,324,776 , respectively, compared to the carrying value of $2,981,923 and $2,986,702 , respectively. The estimated fair value of long-term debt is based on quoted market prices for similar instruments and is, therefore, classified as Level 2 within the fair value hierarchy. The carrying values of cash and cash equivalents, trade receivables, accounts payable and notes payable are reasonable estimates of their fair values as of September 30, 2018 , and December 31, 2017 due to the short-term nature of these instruments.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The effective tax rates for the three months ended September 30, 2018 and 2017 were 18.5% and 22.9% , respectively. The decrease in the effective tax rate for the three months ended September 30, 2018 relative to the prior comparable period was principally due to the decrease in the U.S. statutory tax rate from 35% to 21% and other U.S. tax law changes. The effective tax rates for the nine months ended September 30, 2018 and 2017 were 19.6% and 25.3% , respectively. The decrease in the effective tax rate for the nine months ended September 30, 2018 relative to the prior comparable period was primarily driven by the decrease in the U.S. statutory tax rate from 35% to 21% and other U.S. tax law changes. The discrete items for the three and nine months ended September 30, 2018 primarily resulted from the net tax benefit from stock award exercises. The discrete items for the three and nine months ended September 30, 2017 principally resulted from adjustments to the provision based on filed tax returns in foreign jurisdictions and the effect of the settlement of the 2013 IRS audit. Additionally, the discrete items for the nine months ended September 30, 2017 also included the tax effect of the gain on the sale of PMI. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the U.S. bill commonly referred to as the Tax Cuts and Jobs Act (“Tax Reform Act”). In accordance with the SAB 118 guidance, the Company recognized the provisional tax impacts related to deemed repatriated earnings and the benefit for the revaluation of deferred tax assets and liabilities in its consolidated financial statements for the year ended December 31, 2017. For the nine months ended September 30, 2018 , the Company recorded a $1.3 million tax benefit, which resulted in a 0.2% decrease in the effective tax rate, as an adjustment to the provisional estimates as a result of additional regulatory guidance and changes in interpretations and assumptions the Company has made as a result of the Tax Reform Act. In accordance with SAB 118, any additional adjustment to the financial reporting impact of the Tax Reform Act will be completed by the fourth quarter of 2018. Dover and its subsidiaries file tax returns in the U.S., including various state and local returns and in other foreign jurisdictions. We believe adequate provision has been made for all income tax uncertainties. The Company is routinely audited by taxing authorities in its filing jurisdictions, and a number of these audits are currently underway. The Company believes that within the next twelve months uncertain tax positions may be resolved and statutes of limitations will expire, which could result in a decrease in the gross amount of unrecognized tax benefits of approximately zero to $10.6 million .

Equity Incentive Program

Equity Incentive Program	9 Months Ended
	Sep. 30, 2018
Share-based Compensation [Abstract]
Share-based Compensation	13. Equity Incentive Program The Company typically grants equity awards annually at its regularly scheduled first quarter meeting of the Compensation Committee of the Board of Directors. Additionally, in the second quarter, the Company granted equity awards to its new President and Chief Executive Officer. During the nine months ended September 30, 2018 , the Company issued stock-settled appreciation rights ("SARs") covering 757,603 shares, performance share awards of 122,459 and restricted stock units ("RSUs") of 284,721 . In addition, in connection with the separation of Apergy, the Company modified the outstanding equity awards for its employees. The awards were modified such that all individuals received an equivalent fair value both before and after the separation of Apergy. This modification resulted in the issuance of an additional 1,138,008 SARs, 26,316 performance shares, and 47,063 RSUs. The exercise price of these outstanding awards, where applicable, was adjusted to preserve the value of the awards immediately prior to the separation. As no incremental fair value was awarded as a result of the issuance of these additional shares, the modification did not result in additional compensation expense. The Company uses the Black-Scholes option pricing model to determine the fair value of each SAR on the date of grant. Expected volatilities are based on Dover's stock price history, including implied volatilities from traded options on Dover stock. The Company uses historical data to estimate SAR exercise and employee termination patterns within the valuation model. The expected life of SARs granted is derived from the output of the option valuation model and represents the average period of time that SARs granted are expected to be outstanding. The interest rate for periods within the contractual life of the SARs is based on the U.S. Treasury yield curve in effect at the time of grant. The range of assumptions used in determining the fair value of the SARs awarded during the respective periods were as follows: SARs 2018 2017 Risk-free interest rate 2.58 % - 2.87% 1.80 % Dividend yield 1.99 % - 2.43% 2.27 % Expected life (years) 5.6 - 5.7 4.6 Volatility 20.95 % - 21.20% 21.90 % Grant price (1) $79.75 - $82.08 $66.84 Fair value per share at date of grant (1) $14.58 - $15.41 $10.65 (1) Updated to reflect the modification of grants in connection with the separation of Apergy on May 9, 2018. The performance share awards granted in 2018 and 2017 are considered performance condition awards as attainment is based on Dover's performance relative to established internal metrics. The fair value of these awards was determined using Dover's closing stock price on the date of grant. The expected attainment of the internal metrics for these awards is analyzed each reporting period, and the related expense is adjusted based on expected attainment, if that attainment differs from previous estimates. The cumulative effect on current and prior periods of a change in attainment is recognized in selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings in the period of change. The fair value and average attainment used in determining stock-based compensation cost for the performance shares issued in 2018 and 2017 is as follows for the nine months ended September 30, 2018 : Performance shares 2018 2017 Fair value per share at date of grant (1) $79.75 - $82.08 $66.84 Average attainment rate reflected in expense 206.59% 185.07 % (1) Updated to reflect the modification of grants in connection with the separation of Apergy on May 9, 2018. The Company also has granted RSUs, and the fair value of these awards was determined using Dover's closing stock price on the date of grant (updated to reflect the modification of grants in connection with the separation of Apergy). Stock-based compensation is reported within selling, general and administrative expenses of continuing operations in the Condensed Consolidated Statements of Earnings. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Pre-tax stock-based compensation expense (continuing) $ 5,443 $ 3,670 $ 15,846 $ 19,878 Tax benefit (1,207 ) (1,207 ) (3,520 ) (6,953 ) Total stock-based compensation expense, net of tax $ 4,236 $ 2,463 $ 12,326 $ 12,925 Stock-based compensation expense attributable to Apergy employees for the three months ended September 30, 2018 and 2017 was $0 and $671 , respectively. For the nine months ended September 30, 2018 and 2017 , stock-based compensation expense attributable to Apergy employees was $744 and $1,932 , respectively. These costs are reported within earnings from discontinued operations in the Condensed Consolidated Statement of Earnings.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	14. Commitments and Contingent Liabilities Litigation Certain of the Company’s subsidiaries are involved in legal proceedings relating to the cleanup of waste disposal sites identified under federal and state statutes that provide for the allocation of such costs among "potentially responsible parties." In each instance, the extent of the Company’s liability appears to be very small in relation to the total projected expenditures and the number of other "potentially responsible parties" involved and is anticipated to be immaterial to the Company. In addition, certain of the Company’s subsidiaries are involved in ongoing remedial activities at certain current and former plant sites, in cooperation with regulatory agencies, and appropriate reserves have been established. At September 30, 2018 and December 31, 2017 , the Company has reserves totaling $30,893 and $34,991 , respectively, for environmental and other matters, including private party claims for exposure to hazardous substances that are probable and estimable. The Company and certain of its subsidiaries are also parties to a number of other legal proceedings incidental to their businesses. These proceedings primarily involve claims by private parties alleging injury arising out of use of the Company’s products, patent infringement, employment matters, and commercial disputes. Management and legal counsel, at least quarterly, review the probable outcome of such proceedings, the costs and expenses reasonably expected to be incurred and currently accrued to-date, and the availability and extent of insurance coverage. The Company has reserves for legal matters that are probable and estimable and not otherwise covered by insurance, and at September 30, 2018 and December 31, 2017 , these reserves were not significant. While it is not possible at this time to predict the outcome of these legal actions, in the opinion of management, based on the aforementioned reviews, the Company is not currently involved in any legal proceedings which, individually or in the aggregate, could have a material effect on its financial position, results of operations, or cash flows. Warranty Accruals Estimated warranty program claims are provided for at the time of sale of the Company's products. Amounts provided for are based on historical costs and adjusted for new claims and are included within other accrued expenses and other liabilities in the Condensed Consolidated Balance Sheet. The changes in the carrying amount of product warranties through September 30, 2018 and 2017 , were as follows: 2018 2017 Beginning Balance, December 31 of the Prior Year $ 59,403 $ 80,331 Provision for warranties 46,076 48,489 Settlements made (50,110 ) (54,618 ) Other adjustments, including acquisitions and currency translation (770 ) 823 Ending Balance, September 30 $ 54,599 $ 75,025

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2018
Defined Benefit Plan [Abstract]
Employee Benefit Plans	15. Employee Benefit Plans Retirement Plans The Company offers defined contribution retirement plans which cover the majority of its U.S. employees, as well as employees in certain other countries. In addition, the Company sponsors qualified defined benefit pension plans covering certain employees of the Company and its subsidiaries. The plans’ benefits are generally based on years of service and employee compensation. The Company also provides to certain management employees, through non-qualified plans, supplemental retirement benefits in excess of qualified plan limits imposed by federal tax law. Upon separation from Dover, Apergy participants in the Dover U.S. pension plan (other than Norris USW participants) fully vested in their benefits and ceased accruing future benefits. Dover retained the obligation and participants were able to elect lump-sum payments from plan assets to be paid in the fourth quarter. Such payments are expected to result in a non-cash settlement charge to the Company's fourth quarter 2018 earnings when lump sum payments are paid out, the amount of which will be finalized in the fourth quarter. Assets and obligations related to the Norris USW participants were moved to a new plan sponsored by Apergy. The separation of Apergy triggered a pension plan curtailment which required a re-measurement of the Plan's benefit obligation in the second quarter, assuming a discount rate of 4.2% and an expected return on assets of 6.8% . The re-measurement resulted in one-time charges of $0.2 million in the second quarter of 2018. The following tables set forth the components of the Company’s net periodic expense relating to retirement benefit plans: Qualified Defined Benefits Three Months Ended September 30, Nine Months Ended September 30, U.S. Plan Non-U.S. Plans U.S. Plan Non-U.S. Plans 2018 2017 2018 2017 2018 2017 2018 2017 Service cost $ 1,861 $ 3,021 $ 1,054 $ 1,399 $ 7,148 $ 9,063 $ 4,165 $ 4,059 Interest cost 5,236 5,429 1,098 1,332 15,491 16,288 3,819 3,881 Expected return on plan assets (9,518 ) (9,953 ) (1,710 ) (1,885 ) (29,474 ) (29,859 ) (5,838 ) (5,522 ) Amortization: Prior service cost (credit) 69 107 (112 ) (115 ) 495 320 (338 ) (337 ) Recognized actuarial loss 150 1,396 673 894 2,951 4,187 2,258 2,599 Transition obligation — — — 1 — — 2 3 Net periodic (income) expense $ (2,202 ) $ — $ 1,003 $ 1,626 $ (3,389 ) $ (1 ) $ 4,068 $ 4,683 Less: Discontinued operations $ — $ 846 $ — $ 203 $ 950 $ 2,537 $ 247 $ 608 Net periodic (income) expense - Continuing operations $ (2,202 ) $ (846 ) $ 1,003 $ 1,423 $ (4,339 ) $ (2,538 ) $ 3,821 $ 4,075 Non-Qualified Supplemental Benefits Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Service cost $ 635 $ 619 $ 1,990 $ 1,855 Interest cost 751 1,019 2,452 3,057 Amortization: Prior service cost 931 1,103 3,245 3,308 Recognized actuarial gain (298 ) (298 ) (834 ) (894 ) Net periodic expense $ 2,019 $ 2,443 $ 6,853 $ 7,326 Less: Discontinued operations — 307 351 920 Net periodic expense - Continuing operations $ 2,019 $ 2,136 $ 6,502 $ 6,406 Post-Retirement Benefit Plans The Company also maintains post-retirement benefit plans, although these plans are closed to new entrants. The supplemental and post-retirement benefit plans are supported by the general assets of the Company. The following table sets forth the components of the Company’s net periodic expense relating to its post-retirement benefit plans: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Service cost $ 8 $ 8 $ 23 $ 25 Interest cost 73 74 218 220 Amortization: Prior service cost 3 2 10 6 Recognized actuarial gain (8 ) (41 ) (23 ) (121 ) Net periodic expense $ 76 $ 43 $ 228 $ 130 The total amount amortized out of accumulated other comprehensive earnings into net periodic pension and post-retirement expense totaled $1,407 and $3,049 for the three months ended September 30, 2018 and 2017 , respectively, and $7,765 and $9,071 for the nine months ended September 30, 2018 and 2017 , respectively. On January 1, 2018, the Company adopted Accounting Standards Update ("ASU") 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The service cost component is recognized within selling, general and administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans, and the non-operating components of pension costs are included within other (income) expense, net in the Condensed Consolidated Statements of Earnings. See Note 20 — Recent Accounting Pronouncements for additional information. Defined Contribution Retirement Plans The Company also offers defined contribution retirement plans which cover the majority of its U.S. employees, as well as employees in certain other countries. The Company’s expense relating to defined contribution plans was $8,649 , and $7,521 for the three months ended September 30, 2018 and 2017 , respectively, and $27,500 and $25,632 for the nine months ended September 30, 2018 and 2017 .

Other Comprehensive Earnings

Other Comprehensive Earnings	9 Months Ended
	Sep. 30, 2018
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Earnings	16. Other Comprehensive Earnings The amounts recognized in other comprehensive (loss) earnings were as follows: Three Months Ended Three Months Ended September 30, 2018 September 30, 2017 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ (14,860 ) $ 1,293 $ (13,567 ) $ 72,823 $ 20,446 $ 93,269 Pension and other post-retirement benefit plans 1,407 (301 ) 1,106 3,049 (974 ) 2,075 Changes in fair value of cash flow hedges (1,374 ) 289 (1,085 ) (712 ) 249 (463 ) Other — — — 309 (37 ) 272 Total other comprehensive (loss) earnings $ (14,827 ) $ 1,281 $ (13,546 ) $ 75,469 $ 19,684 $ 95,153 Nine Months Ended Nine Months Ended September 30, 2018 September 30, 2017 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ (24,794 ) $ (1,624 ) $ (26,418 ) $ 119,725 $ 43,490 $ 163,215 Pension and other post-retirement benefit plans 7,765 (1,657 ) 6,108 9,071 (2,901 ) 6,170 Changes in fair value of cash flow hedges 2,116 (444 ) 1,672 (3,566 ) 1,248 (2,318 ) Other — — — 35 (4 ) 31 Total other comprehensive (loss) earnings $ (14,913 ) $ (3,725 ) $ (18,638 ) $ 125,265 $ 41,833 $ 167,098 Total comprehensive earnings were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Net earnings $ 157,305 $ 178,912 $ 428,698 $ 515,217 Other comprehensive (loss) earnings (13,546 ) 95,153 (18,638 ) 167,098 Comprehensive earnings $ 143,759 $ 274,065 $ 410,060 $ 682,315 Amounts reclassified from accumulated other comprehensive (loss) to earnings during the three and nine months ended September 30, 2018 and 2017 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Foreign currency translation: Reclassification of foreign currency translation losses to earnings from sale of subsidiary $ — $ — $ — $ 3,875 Tax benefit — — — — Net of tax $ — $ — $ — $ 3,875 Pension and other postretirement benefit plans: Amortization of actuarial losses $ 517 $ 1,951 $ 4,354 $ 5,771 Amortization of prior service costs 890 1,098 3,411 3,300 Total before tax 1,407 3,049 7,765 9,071 Tax benefit (301 ) (974 ) (1,657 ) (2,901 ) Net of tax $ 1,106 $ 2,075 $ 6,108 $ 6,170 Cash flow hedges: Net loss (gains) reclassified into earnings $ 460 $ (417 ) $ (439 ) $ (506 ) Tax (benefit) provision (96 ) 146 92 177 Net of tax $ 364 $ (271 ) $ (347 ) $ (329 ) The Company recognizes the amortization of net actuarial gains and losses and prior service costs in other (income) expense, net within the Condensed Consolidated Statements of Earnings. Cash flow hedges consist mainly of foreign currency forward contracts. The Company recognizes the realized gains and losses on its cash flow hedges in the same line item as the hedged transaction, such as revenue, cost of goods and services, or selling, general and administrative expenses.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Segment Information	17. Segment Information As described in Note 2 - Spin-off of Apergy Corporation, Dover completed the distribution of Apergy to its shareholders on May 9, 2018. Apergy holds entities conducting upstream energy businesses previously included in the Energy segment. Following completion of the spin-off, the retained Precision Components (Bearings & Compression) and Tulsa Winch Group businesses, which were historically reported within the former Energy segment, became part of the Fluids and Engineered Systems segments, respectively. As a result of the spin-off of Apergy, the Company no longer has the Energy segment. Effective the second quarter of 2018, the Company categorizes its operating companies into three reportable segments based on how the Chief Operating Decision Makers (CODM) analyze performance, allocate capital and make strategic and operational decisions. The three reportable segments are as follows: • Engineered Systems segment is comprised of two platforms, Printing & Identification and Industrials, and is focused on the design, manufacture and service of critical equipment and components serving the fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions and industrial end markets. • Fluids segment, serving the Fueling & Transport, Pumps and Process Solutions end markets, is focused on the safe handling of critical fluids, and providing critical components to the retail fueling, chemical, hygienic, oil and gas, power generation and industrial markets. • Refrigeration & Food Equipment segment is a provider of innovative and energy efficient equipment and systems serving the commercial refrigeration and food equipment end markets. Segment financial information and a reconciliation of segment results to consolidated results is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Revenue: Engineered Systems $ 671,534 $ 670,999 $ 2,046,149 $ 1,978,156 Fluids 690,065 638,068 2,011,829 1,868,965 Refrigeration & Food Equipment 386,214 438,788 1,126,215 1,221,926 Intra-segment eliminations (410 ) (80 ) (1,025 ) (691 ) Total consolidated revenue $ 1,747,403 $ 1,747,775 $ 5,183,168 $ 5,068,356 Earnings from continuing operations: Segment earnings: (1) Engineered Systems $ 108,714 $ 102,767 $ 337,429 $ 390,077 Fluids 101,207 103,052 261,583 261,689 Refrigeration & Food Equipment 42,434 65,413 122,988 164,804 Total segment earnings 252,355 271,232 722,000 816,570 Corporate expense / other (2) 30,207 30,843 91,020 102,943 Interest expense 31,192 35,372 98,957 108,585 Interest income (2,060 ) (1,759 ) (6,680 ) (6,669 ) Earnings before provision for income taxes and discontinued operations 193,016 206,776 538,703 611,711 Provision for income taxes 35,711 47,321 105,533 154,693 Earnings from continuing operations $ 157,305 $ 159,455 $ 433,170 $ 457,018 (1) Segment earnings includes non-operating income and expense directly attributable to the segments. Non-operating income and expense includes gain on sale of businesses and other (income) expense, net. (2) Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services costs and various administrative expenses relating to the corporate headquarters.

Share Repurchases

Share Repurchases	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Share repurchases	18. Share Repurchases Under the January 2015 authorization which expired on January 9, 2018, the Company repurchased 440,608 shares of common stock during the nine months ended September 30, 2018 at a total cost of $44,977 , or $102.08 per share. There were 5,271,168 shares available for repurchase under this authorization upon expiration. There were no repurchases during the nine months ended September 30, 2017 . In February 2018, the Company's Board of Directors approved a new standing share repurchase authorization, whereby the Company may repurchase up to 20 million shares of its common stock through December 31, 2020. This share repurchase authorization replaced the January 2015 share repurchase authorization. On May 22, 2018, the Company entered into an accelerated share repurchase agreement (the “ASR Agreement”) with Goldman Sachs & Co. LLC (“Goldman Sachs”) pursuant to which it will repurchase $700,000 of shares in an accelerated share repurchase program (the “ASR Program”). The Company is conducting the ASR Program under the February 2018 share repurchase authorization. The Company funded the ASR Program with funds received from Apergy in connection with the consummation of the Apergy spin-off. Under the terms of the ASR Agreement, the Company paid Goldman Sachs $700,000 on May 24, 2018 and on that date received initial deliveries of 7,078,751 shares, representing a substantial majority of the shares expected to be retired over the course of the ASR Agreement. The total number of shares ultimately repurchased under the ASR Agreement will be based on the volume-weighted average share price of Dover’s common stock during the calculation period of the ASR Program, less a discount. The ASR Program is scheduled to be completed in 2018, subject to postponement or acceleration under the terms of the ASR Agreement. The actual number of shares repurchased will be determined at the completion of the ASR Program. Under the February 2018 share repurchase authorization, exclusive of the ASR Agreement, the Company repurchased 1,729,048 shares of common stock during the three and nine months ended September 30, 2018 at a total cost of $147,793 , or $85.48 per share. As of September 30, 2018 , 11,192,201 shares remain authorized for repurchase under the February 2018 share repurchase authorization. Together with other repurchases in December 2017 and over the course of 2018, the Company has substantially completed the $1 billion of share repurchases it announced in November 2017.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	19. Earnings per Share The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Earnings from continuing operations $ 157,305 $ 159,455 $ 433,170 $ 457,018 Earnings (loss) from discontinued operations, net — 19,457 (4,472 ) 58,199 Net earnings $ 157,305 $ 178,912 $ 428,698 $ 515,217 Basic earnings (loss) per common share: Earnings from continuing operations $ 1.07 $ 1.02 $ 2.87 $ 2.94 Earnings (loss) from discontinued operations, net $ — $ 0.12 $ (0.03 ) $ 0.37 Net earnings $ 1.07 $ 1.15 $ 2.84 $ 3.31 Weighted average shares outstanding 147,344,000 155,757,000 151,177,000 155,668,000 Diluted earnings (loss) per common share: Earnings from continuing operations $ 1.05 $ 1.01 $ 2.82 $ 2.90 Earnings (loss) from discontinued operations, net $ — $ 0.12 $ (0.03 ) $ 0.37 Net earnings $ 1.05 $ 1.14 $ 2.79 $ 3.27 Weighted average shares outstanding 149,457,000 157,555,000 153,429,000 157,565,000 The following table is a reconciliation of the share amounts used in computing earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Weighted average shares outstanding - Basic 147,344,000 155,757,000 151,177,000 155,668,000 Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs 2,113,000 1,798,000 2,252,000 1,897,000 Weighted average shares outstanding - Diluted 149,457,000 157,555,000 153,429,000 157,565,000 Diluted earnings per share amounts are computed using the weighted average number of common shares outstanding and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of SARs and vesting of performance shares and RSUs, as determined using the treasury stock method. The weighted average number of anti-dilutive potential common shares excluded from the calculation above were approximately 10,000 and 87,000 for the three months ended September 30, 2018 and 2017 , respectively, and 1,000 and 37,000 for the nine months ended September 30, 2018 and 2017 , respectively.

Recent Accounting Standards

Recent Accounting Standards	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Standards	20. Recent Accounting Pronouncements Recently Issued Accounting Standards The following standards, issued by the Financial Accounting Standards Board ("FASB"), will, or are expected to, result in a change in practice and/or have a financial impact to the Company’s Consolidated Financial Statements: In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in this update. The amendments in this update are effective for interim and annual periods for the Company beginning on January 1, 2020, with early adoption permitted. The amendments in this update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is in the process of assessing the impact of this ASU on its Consolidated Financial Statements but does not expect this update to have a material impact on the Company's Consolidated Financial Statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU provides new guidance about income statement classification and eliminates the requirement to separately measure and report hedge ineffectiveness. The entire change in fair value for qualifying hedge instruments included in the effectiveness will be recorded in Other Comprehensive Income ("OCI") and amounts deferred in OCI will be reclassified to earnings in the same income statement line item in which the earnings effect of the hedged item is reported. The guidance is effective for interim and annual periods for the Company beginning on January 1, 2019, with early adoption permitted. The Company does not expect the adoption of this ASU to have a material impact on its Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which amends existing guidance to require lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by long-term leases and to disclose additional quantitative and qualitative information about leasing arrangements. This ASU also provides clarifications surrounding the presentation of the effects of leases in the income statement and statement of cash flows. This guidance will be effective for the Company beginning on January 1, 2019. In addition, the FASB issued ASU 2018-11, Leases Targeted Improvements which provides an additional transition method that allows entities to apply the new leases standard at adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. The Company has elected this new transition method when it adopts ASU 2016-02 on January 1, 2019. During the second half of 2017, the Company developed a project plan to guide the implementation of ASU 2016-02. The Company made progress on this plan including surveying the Company’s businesses, assessing the Company’s portfolio of leases and compiling a central repository of active leases. The Company evaluated key policy elections and considerations under the standard and completed an internal policy to address the new standard requirements. Additionally, the Company selected a lease accounting software solution to support the new reporting requirements and started using the software during the third quarter of 2018. Significant progress has been made on extracting and loading lease data elements required for lease accounting into the software solution. The Company also completed the design of the future lease process, with training on-going. Although the Company is still finalizing its evaluation of the impact the new lease accounting guidance will have on its Consolidated Financial Statements, the Company expects to recognize right of use assets and liabilities for its operating leases in the Consolidated Balance Sheet upon adoption. Recently Adopted Accounting Standards In March 2018, the FASB issued ASU 2018-07, Income Taxes (Topic 740) Amendments to SEC Paragraphs Pursuant to the SEC SAB 118. This ASU provides guidance on income tax accounting implications under the Tax Reform Act. SAB 118 addressed the application of GAAP to situations when a registrant does not have the necessary information available, prepared and analyzed in reasonable detail to complete the accounting for certain income tax effects of the Tax Reform Act and allows companies to record provisional amounts during the re-measurement period not to exceed one year after the enactment date while the accounting impact remains under analysis. This guidance was effective immediately upon issuance. See Note 12 — Income Taxes for further details. In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The ASU allows for the reclassification from Accumulated Other Comprehensive Income ("AOCI") to retained earnings for tax effects resulting from the Tax Reform Act that are stranded in AOCI. ASU 2018-02, however, does not change the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations. The Company early adopted this guidance on January 1, 2018, and elected to reclassify the stranded tax effects from AOCI to retained earnings of $12.9 million . The stranded tax effects were specifically identified and represented the difference between the change in the amount of income tax from 35% to 21% , recognized in AOCI primarily for the deferred tax associated with the pension activity, which were recognized in the Consolidated Statement of Earnings for the year ended December 31, 2017. In March 2017, the FASB issued ASU 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This ASU changes the income statement presentation of defined benefit and post-retirement benefit plan expense by requiring separation between operating expense (service cost component of net periodic benefit expense) and non-operating expense (all other components of net periodic benefit expense, including interest cost, amortization of prior service cost, curtailments and settlements, etc.). The operating expense component is reported with similar compensation costs while the non-operating components are reported outside of operating income. The non-operating components are reported in the other (income) expense, net line item in the Consolidated Statement of Earnings. The Company’s non-service cost components of net periodic benefit cost were a benefit of $2.7 million and $3.7 million during the three months ended September 30, 2018 and 2017 respectively and a benefit of $5.6 million and $3.7 million for the nine months ended September 30, 2018 and 2017 , respectively. The impact of this adoption resulted in a reclassification to the Company’s Condensed Consolidated Statement of Earnings for the nine months ended September 30, 2017 , in which previously reported selling, general and administrative expenses was increased by $3.7 million , with a corresponding $3.7 million decrease to other (income) expense, net. The Company utilized a practical expedient included in the ASU which allowed the Company to use amounts previously disclosed in its pension and other post-retirement benefits note for the prior period as the estimation basis for applying the required retrospective presentation requirements. The Company adopted this guidance on January 1, 2018. In January 2017, the FASB issued ASU 2017-01, Business combinations (Topic 805): Clarifying the definition of a business, which clarifies the definition of a business and assists entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under this guidance, when substantially all of the fair value of gross assets acquired is concentrated in a single asset (or group of similar assets), the assets acquired would not represent a business. In addition, in order to be considered a business, an acquisition would have to include at a minimum an input and a substantive process that together significantly contribute to the ability to create an output. The amended guidance also narrows the definition of outputs by more closely aligning it with how outputs are described in FASB guidance for revenue recognition. The Company adopted this guidance on January 1, 2018. The adoption of this ASU did not have a material impact on the Company's Consolidated Financial Statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This ASU addresses the following eight specific cash flow issues: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. The Company adopted this guidance on January 1, 2018. The adoption of this ASU did not have a material impact on the Company's Consolidated Financial Statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance introduced a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also required disclosures sufficient to enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments and assets recognized from the costs to obtain or fulfill a contract. The Company adopted this guidance on January 1, 2018. The Company commenced its assessment of ASU 2014-09 during the second half of 2015 and developed a project plan to guide the implementation. The Company completed this project plan, in which it analyzed the ASU’s impact on the Company's contract portfolio, surveyed the Company's businesses and discussed the various revenue streams, completed contract reviews, compared its historical accounting policies and practices to the requirements of the new guidance, identified potential differences from applying the requirements of the new guidance to its contracts and updated and provided training on its accounting policy. The Company also evaluated new disclosure requirements and identified and implemented appropriate changes to its business processes, systems and controls to support recognition and disclosure under the new guidance. The Company adopted this new guidance using the modified retrospective method that resulted in a cumulative catch-up adjustment of $0.2 million to retained earnings as of the date of adoption.

Revenue Revenue (Policies)

Revenue Revenue (Policies)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Changes in Accounting Policies The Company adopted Topic 606, effective January 1, 2018, using the modified retrospective method applying Topic 606 to contracts that are not complete as of the date of initial application. Under the modified retrospective method, the cumulative effect of applying the standard has been recognized at the date of initial application, January 1, 2018. The comparative information has not been adjusted and continues to be reported under Topic 605. The Company's accounting policy has been updated to align with Topic 606, and no significant changes to revenue recognition have occurred as a result of the change. Shipping and handling charges are not considered a separate performance obligation. If revenue is recognized for the related good before the shipping and handling activities occur, the related costs of those shipping and handling activities must be accrued. Additionally, all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) are excluded from revenue. The Company's policy elections related to shipping and handling and taxes have not changed with the adoption of Topic 606. Under Topic 605, revenue was generally recognized when all of the following criteria were met: a) persuasive evidence of an arrangement exists, b) price is fixed or determinable, c) collectability is reasonably assured and d) delivery has occurred or services have been rendered. The majority of the Company's revenue is generated through the manufacture and sale of a broad range of specialized products and components and revenue was recognized upon transfer of title and risk of loss, which was generally upon shipment. In limited cases, the Company's revenue arrangements with customers required delivery, installation, testing, certification, or other acceptance provisions to be satisfied before revenue was recognized. The Company included shipping costs billed to customers in Revenue and the related shipping costs in Cost of goods and services.

Spin-off of Apergy Corporatio_2

Spin-off of Apergy Corporation Spin-off of Apergy Corporation (Tables)	9 Months Ended
	Sep. 30, 2018
Spin-off of Apergy Corporation [Abstract]
Spin-Off of Apergy Corporation [Table Text Block]	The following is a summary of the assets and liabilities transferred to Apergy as part of the separation on May 9, 2018: Assets: Cash and cash equivalents $ 10,357 Current assets 462,620 Non-current assets 1,438,760 $ 1,911,737 Liabilities: Current liabilities $ 185,354 Non-current liabilities 119,568 $ 304,922 Net assets distributed to Apergy Corporation $ 1,606,815 Less: Cash received from Apergy Corporation 700,000 Net distribution to Apergy Corporation $ 906,815

Revenue Revenue (Tables)

Revenue Revenue (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents revenue disaggregated by end market and segment: Three Months Ended September 30, Nine Months Ended September 30, 2018 2018 Printing & Identification $ 283,232 $ 865,588 Industrials 388,302 1,180,561 Total Engineered Systems segment 671,534 2,046,149 Fueling & Transport 367,617 1,050,276 Pumps 167,542 503,157 Process Solutions 154,906 458,396 Total Fluids segment 690,065 2,011,829 Refrigeration 328,281 937,168 Food Equipment 57,933 189,047 Total Refrigeration & Food Equipment segment 386,214 1,126,215 Intra-segment eliminations (410 ) (1,025 ) Total Consolidated Revenue $ 1,747,403 $ 5,183,168
Revenue from External Customers by Geographic Areas [Table Text Block]	The following table presents revenue disaggregated by geography based on the location of the Company's customer: Three Months Ended September 30, Nine Months Ended September 30, 2018 2018 United States $ 922,261 $ 2,707,470 Europe 369,479 1,158,891 Asia 219,645 633,280 Other Americas 166,182 467,523 Other 69,836 216,004 Total $ 1,747,403 $ 5,183,168
Contract with Customer, Asset and Liability [Table Text Block]	The following table provides information about contract assets and contract liabilities from contracts with customers: September 30, 2018 At Adoption Contract assets $ 16,202 $ 11,932 Contract liabilities - current 43,075 48,268 Contract liabilities - non-current 9,617 9,916 Contract assets primarily relate to the Company's right to consideration for work completed but not billed at the reporting date and are recorded in prepaid and other current assets in the Condensed Consolidated Balance Sheet. Contract assets are transferred to receivables when the right to consideration becomes unconditional. Contract liabilities relate to advance consideration received from customers for which revenue has not been recognized. Current contract liabilities are recorded in other accrued expenses and non-current contract liabilities are recorded in other liabilities in the Condensed Consolidated Balance Sheet. Contract liabilities are reduced when the associated revenue from the contract is recognized. Significant changes in contract assets and liabilities balances during the period are as follows: Contract Assets Opening balance at January 1, 2018 $ 11,932 Cumulative catch-up adjustment upon transition 701 Changes in the estimate of the stage of completion 10,870 Transferred to receivables from contract assets recognized during the period (7,255 ) Other (46 ) Closing balance at September 30, 2018 $ 16,202 Contract Liabilities Opening balance at January 1, 2018 $ 58,184 Cumulative catch-up adjustment upon transition — Revenue recognized that was included in the contract liability balance at the beginning of the period (52,730 ) Increases due to cash received, excluding amounts recognized as revenue during the period 47,880 Other (642 ) Closing balance at September 30, 2018 $ 52,692

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Pro forma results of operations	The following unaudited pro forma information illustrates the impact of 2018 and 2017 acquisitions on the Company’s revenue and earnings from operations for the nine months ended September 30, 2018 and 2017 , respectively. In the year 2017 , the Company acquired two businesses in separate transactions for total net consideration of $34,300 . The unaudited pro forma information assumes that the 2018 and 2017 acquisitions had taken place at the beginning of the prior year, 2017 and 2016 , respectively. Unaudited pro forma earnings are adjusted to reflect the comparable impact of additional depreciation and amortization expense, net of tax, resulting from the fair value measurement of intangible and tangible assets relating to the year of acquisition. The unaudited pro forma effects for the three and nine months ended September 30, 2018 and 2017 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Revenue: As reported $ 1,747,403 $ 1,747,775 $ 5,183,168 $ 5,068,356 Pro forma 1,747,403 1,756,565 5,183,484 5,097,953 Earnings: As reported $ 157,305 $ 159,455 $ 433,170 $ 457,018 Pro forma 157,097 160,686 436,811 456,833 Basic earnings per share: As reported $ 1.07 $ 1.02 $ 2.87 $ 2.94 Pro forma 1.07 1.03 2.89 2.93 Diluted earnings per share: As reported $ 1.05 $ 1.01 $ 2.82 $ 2.90 Pro forma 1.05 1.02 2.85 2.90

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Results of discontinued operations [Table Text Block]	Summarized results of the Company's discontinued operations are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Revenue $ — $ 258,649 $ 403,688 $ 745,079 Cost of goods and services — 163,509 254,205 469,280 Gross profit — 95,140 149,483 275,799 Selling, general and administrative expenses — 64,170 144,114 186,517 Operating earnings — 30,970 5,369 89,282 Other expense, net — 318 349 802 Earnings from discontinued operations before taxes — 30,652 5,020 88,480 Provision for income taxes — 11,195 9,492 30,281 Earnings (loss) from discontinued operations, net of tax $ — $ 19,457 $ (4,472 ) $ 58,199
Asset and Liabilities of Discops [Table Text Block]	Assets and liabilities of discontinued operations are summarized below: December 31, 2017 Assets of Discontinued Operations Accounts receivable $ 202,052 Inventories, net 201,591 Prepaid and other current assets 14,035 Total current assets 417,678 Property, plant and equipment, net 211,832 Goodwill and intangible assets, net 1,232,843 Other assets and deferred charges 3,200 Total assets $ 1,865,553 Liabilities of Discontinued Operations Accounts payable $ 97,439 Other current liabilities 59,482 Total current liabilities 156,921 Deferred income taxes 90,641 Other liabilities 16,691 Total liabilities $ 264,253

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory, Net [Abstract]
Components of Inventory	September 30, 2018 December 31, 2017 Raw materials $ 409,217 $ 400,009 Work in progress 177,567 128,296 Finished goods 330,147 251,402 Subtotal 916,931 779,707 Less reserves (112,950 ) (102,664 ) Total $ 803,981 $ 677,043

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Components of property, plant and equipment, net	September 30, 2018 December 31, 2017 Land $ 54,060 $ 54,918 Buildings and improvements 523,624 517,049 Machinery, equipment and other 1,549,991 1,472,852 Property, plant and equipment, gross 2,127,675 2,044,819 Total accumulated depreciation (1,320,938 ) (1,256,879 ) Property, plant and equipment, net $ 806,737 $ 787,940

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill [Line Items]
Goodwill	The changes in the carrying value of goodwill by reportable operating segments were as follows: Engineered Systems Fluids Refrigeration & Food Equipment Total Balance at December 31, 2017 $ 1,645,389 $ 1,504,284 $ 536,699 $ 3,686,372 Reallocation due to Apergy separation 3,546 — — 3,546 Acquisitions — 36,493 10,402 46,895 Purchase price adjustments 328 — — 328 Foreign currency translation (6,483 ) (10,627 ) (433 ) (17,543 ) Balance at September 30, 2018 $ 1,642,780 $ 1,530,150 $ 546,668 $ 3,719,598
Schedule of Intangible Assets	The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows: September 30, 2018 December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Customer intangibles $ 1,416,686 $ 628,959 $ 787,727 $ 1,405,361 $ 559,447 $ 845,914 Trademarks 217,289 69,224 148,065 217,621 58,523 159,098 Patents 145,357 127,590 17,767 145,577 123,135 22,442 Unpatented technologies 157,394 82,670 74,724 152,913 71,284 81,629 Distributor relationships 85,202 36,874 48,328 85,794 32,092 53,702 Drawings & manuals 32,832 23,175 9,657 32,739 20,767 11,972 Other 28,346 15,534 12,812 23,095 12,028 11,067 Total 2,083,106 984,026 1,099,080 2,063,100 877,276 1,185,824 Unamortized intangible assets: Trademarks 96,770 — 96,770 96,800 — 96,800 Total intangible assets, net $ 2,179,876 $ 984,026 $ 1,195,850 $ 2,159,900 $ 877,276 $ 1,282,624

Restructuring Activities (Table

Restructuring Activities (Tables)	9 Months Ended
	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The Company's restructuring charges by segment were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Engineered Systems $ 10,637 $ 926 $ 13,872 $ 2,744 Fluids 10,473 2,403 16,021 6,910 Refrigeration & Food Equipment 452 1,185 598 2,710 Corporate 2,639 — 5,932 — Total $ 24,201 $ 4,514 $ 36,423 $ 12,364 These amounts are classified in the Condensed Consolidated Statements of Earnings as follows: Cost of goods and services $ 3,586 $ 1,840 $ 7,985 $ 6,075 Selling, general and administrative expenses 20,615 2,674 28,438 6,289 Total $ 24,201 $ 4,514 $ 36,423 $ 12,364
Schedule of Restructuring Reserve by Type of Cost	The Company’s severance and exit accrual activities were as follows: Severance Exit Total Balance at December 31, 2017 $ 25,681 $ 5,591 $ 31,272 Restructuring charges 31,786 4,637 36,423 Payments (31,100 ) (7,483 ) (38,583 ) Other, including foreign currency translation (934 ) (288 ) (1) (1,222 ) Balance at September 30, 2018 $ 25,433 $ 2,457 $ 27,890

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Borrowings consisted of the following: September 30, 2018 December 31, 2017 Short-term Current portion of long-term debt and short-term borrowings $ 59 $ 350,402 Commercial paper 298,600 230,700 Notes payable and current maturities of long-term debt $ 298,659 $ 581,102
Schedule of Long-term Debt Instruments	Carrying amount (1) Principal September 30, 2018 December 31, 2017 Long-term 5.45% 10-year notes due March 15, 2018 $ 350,000 $ — $ 349,918 2.125% 7-year notes due December 1, 2020 (euro-denominated) € 300,000 352,119 354,349 4.30% 10-year notes due March 1, 2021 $ 450,000 449,108 448,831 3.150% 10-year notes due November 15, 2025 $ 400,000 395,200 394,695 1.25% 10-year notes due November 9, 2026 (euro-denominated) € 600,000 696,793 701,058 6.65% 30-year debentures due June 1, 2028 $ 200,000 199,029 198,954 5.375% 30-year debentures due October 15, 2035 $ 300,000 295,748 295,561 6.60% 30-year notes due March 15, 2038 $ 250,000 247,798 247,713 5.375% 30-year notes due March 1, 2041 $ 350,000 343,808 343,600 Other 2,320 2,034 Total long-term debt 2,981,923 3,336,713 Less long-term debt current portion — (350,011 ) Net long-term debt $ 2,981,923 $ 2,986,702 (1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts were $16.4 million and $17.6 million as of September 30, 2018 and December 31, 2017 , respectively. Total deferred debt issuance costs were $13.5 million and $14.9 million as of September 30, 2018 and December 31, 2017 , respectively.

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative instruments and the balance sheet lines in which they are recorded	The following table sets forth the fair values of derivative instruments held by the Company as of September 30, 2018 and December 31, 2017 and the balance sheet lines in which they are recorded: Fair Value Asset (Liability) September 30, 2018 December 31, 2017 Balance Sheet Caption Foreign currency forward $ 3,158 $ 358 Prepaid / Other current assets Foreign currency forward (1,456 ) (2,243 ) Other accrued expenses
Schedule of net investment hedges in accumulated other comprehensive income (loss)	Amounts recognized in other comprehensive (loss) earnings for the gains (losses) on net investment hedges were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Loss) gain on euro-denominated debt $ (6,155 ) $ (58,419 ) $ 7,734 $ (124,258 ) Tax benefit (expense) 1,293 20,446 (1,624 ) 43,490 Net (loss) gain on net investment hedges, net of tax $ (4,862 ) $ (37,973 ) $ 6,110 $ (80,768 )
Assets and liabilities measured at fair value on a recurring basis	The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 Level 2 Level 2 Assets: Foreign currency cash flow hedges $ 3,158 $ 358 Liabilities: Foreign currency cash flow hedges 1,456 2,243

Equity Incentive Program (Table

Equity Incentive Program (Tables)	9 Months Ended
	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based incentive plans compensation expense	Stock-based compensation is reported within selling, general and administrative expenses of continuing operations in the Condensed Consolidated Statements of Earnings. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Pre-tax stock-based compensation expense (continuing) $ 5,443 $ 3,670 $ 15,846 $ 19,878 Tax benefit (1,207 ) (1,207 ) (3,520 ) (6,953 ) Total stock-based compensation expense, net of tax $ 4,236 $ 2,463 $ 12,326 $ 12,925 Stock-based compensation expense attributable to Apergy employees for the three months ended September 30, 2018 and 2017 was $0 and $671 , respectively. For the nine months ended September 30, 2018 and 2017 , stock-based compensation expense attributable to Apergy employees was $744 and $1,932 , respectively. These costs are reported within earnings from discontinued operations in the Condensed Consolidated Statement of Earnings.
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Valuation assumptions	The range of assumptions used in determining the fair value of the SARs awarded during the respective periods were as follows: SARs 2018 2017 Risk-free interest rate 2.58 % - 2.87% 1.80 % Dividend yield 1.99 % - 2.43% 2.27 % Expected life (years) 5.6 - 5.7 4.6 Volatility 20.95 % - 21.20% 21.90 % Grant price (1) $79.75 - $82.08 $66.84 Fair value per share at date of grant (1) $14.58 - $15.41 $10.65 (1) Updated to reflect the modification of grants in connection with the separation of Apergy on May 9, 2018.
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Valuation assumptions	The fair value and average attainment used in determining stock-based compensation cost for the performance shares issued in 2018 and 2017 is as follows for the nine months ended September 30, 2018 : Performance shares 2018 2017 Fair value per share at date of grant (1) $79.75 - $82.08 $66.84 Average attainment rate reflected in expense 206.59% 185.07 % (1) Updated to reflect the modification of grants in connection with the separation of Apergy on May 9, 2018.

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	Estimated warranty program claims are provided for at the time of sale of the Company's products. Amounts provided for are based on historical costs and adjusted for new claims and are included within other accrued expenses and other liabilities in the Condensed Consolidated Balance Sheet. The changes in the carrying amount of product warranties through September 30, 2018 and 2017 , were as follows: 2018 2017 Beginning Balance, December 31 of the Prior Year $ 59,403 $ 80,331 Provision for warranties 46,076 48,489 Settlements made (50,110 ) (54,618 ) Other adjustments, including acquisitions and currency translation (770 ) 823 Ending Balance, September 30 $ 54,599 $ 75,025

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2018
Defined benefit pension plans
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	The following tables set forth the components of the Company’s net periodic expense relating to retirement benefit plans: Qualified Defined Benefits Three Months Ended September 30, Nine Months Ended September 30, U.S. Plan Non-U.S. Plans U.S. Plan Non-U.S. Plans 2018 2017 2018 2017 2018 2017 2018 2017 Service cost $ 1,861 $ 3,021 $ 1,054 $ 1,399 $ 7,148 $ 9,063 $ 4,165 $ 4,059 Interest cost 5,236 5,429 1,098 1,332 15,491 16,288 3,819 3,881 Expected return on plan assets (9,518 ) (9,953 ) (1,710 ) (1,885 ) (29,474 ) (29,859 ) (5,838 ) (5,522 ) Amortization: Prior service cost (credit) 69 107 (112 ) (115 ) 495 320 (338 ) (337 ) Recognized actuarial loss 150 1,396 673 894 2,951 4,187 2,258 2,599 Transition obligation — — — 1 — — 2 3 Net periodic (income) expense $ (2,202 ) $ — $ 1,003 $ 1,626 $ (3,389 ) $ (1 ) $ 4,068 $ 4,683 Less: Discontinued operations $ — $ 846 $ — $ 203 $ 950 $ 2,537 $ 247 $ 608 Net periodic (income) expense - Continuing operations $ (2,202 ) $ (846 ) $ 1,003 $ 1,423 $ (4,339 ) $ (2,538 ) $ 3,821 $ 4,075
Supplemental Employee Retirement Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	Non-Qualified Supplemental Benefits Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Service cost $ 635 $ 619 $ 1,990 $ 1,855 Interest cost 751 1,019 2,452 3,057 Amortization: Prior service cost 931 1,103 3,245 3,308 Recognized actuarial gain (298 ) (298 ) (834 ) (894 ) Net periodic expense $ 2,019 $ 2,443 $ 6,853 $ 7,326 Less: Discontinued operations — 307 351 920 Net periodic expense - Continuing operations $ 2,019 $ 2,136 $ 6,502 $ 6,406
Post-Retirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	The Company also maintains post-retirement benefit plans, although these plans are closed to new entrants. The supplemental and post-retirement benefit plans are supported by the general assets of the Company. The following table sets forth the components of the Company’s net periodic expense relating to its post-retirement benefit plans: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Service cost $ 8 $ 8 $ 23 $ 25 Interest cost 73 74 218 220 Amortization: Prior service cost 3 2 10 6 Recognized actuarial gain (8 ) (41 ) (23 ) (121 ) Net periodic expense $ 76 $ 43 $ 228 $ 130

Other Comprehensive Earnings (T

Other Comprehensive Earnings (Tables)	9 Months Ended
	Sep. 30, 2018
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Components of other comprehensive income	The amounts recognized in other comprehensive (loss) earnings were as follows: Three Months Ended Three Months Ended September 30, 2018 September 30, 2017 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ (14,860 ) $ 1,293 $ (13,567 ) $ 72,823 $ 20,446 $ 93,269 Pension and other post-retirement benefit plans 1,407 (301 ) 1,106 3,049 (974 ) 2,075 Changes in fair value of cash flow hedges (1,374 ) 289 (1,085 ) (712 ) 249 (463 ) Other — — — 309 (37 ) 272 Total other comprehensive (loss) earnings $ (14,827 ) $ 1,281 $ (13,546 ) $ 75,469 $ 19,684 $ 95,153 Nine Months Ended Nine Months Ended September 30, 2018 September 30, 2017 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ (24,794 ) $ (1,624 ) $ (26,418 ) $ 119,725 $ 43,490 $ 163,215 Pension and other post-retirement benefit plans 7,765 (1,657 ) 6,108 9,071 (2,901 ) 6,170 Changes in fair value of cash flow hedges 2,116 (444 ) 1,672 (3,566 ) 1,248 (2,318 ) Other — — — 35 (4 ) 31 Total other comprehensive (loss) earnings $ (14,913 ) $ (3,725 ) $ (18,638 ) $ 125,265 $ 41,833 $ 167,098
Schedule of comprehensive income (loss)	Total comprehensive earnings were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Net earnings $ 157,305 $ 178,912 $ 428,698 $ 515,217 Other comprehensive (loss) earnings (13,546 ) 95,153 (18,638 ) 167,098 Comprehensive earnings $ 143,759 $ 274,065 $ 410,060 $ 682,315
Schedule of amounts reclassified from accumulated other comprehensive income (loss) to earnings	Amounts reclassified from accumulated other comprehensive (loss) to earnings during the three and nine months ended September 30, 2018 and 2017 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Foreign currency translation: Reclassification of foreign currency translation losses to earnings from sale of subsidiary $ — $ — $ — $ 3,875 Tax benefit — — — — Net of tax $ — $ — $ — $ 3,875 Pension and other postretirement benefit plans: Amortization of actuarial losses $ 517 $ 1,951 $ 4,354 $ 5,771 Amortization of prior service costs 890 1,098 3,411 3,300 Total before tax 1,407 3,049 7,765 9,071 Tax benefit (301 ) (974 ) (1,657 ) (2,901 ) Net of tax $ 1,106 $ 2,075 $ 6,108 $ 6,170 Cash flow hedges: Net loss (gains) reclassified into earnings $ 460 $ (417 ) $ (439 ) $ (506 ) Tax (benefit) provision (96 ) 146 92 177 Net of tax $ 364 $ (271 ) $ (347 ) $ (329 )

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Revenue and earnings from continuing operations by market segment	Segment financial information and a reconciliation of segment results to consolidated results is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Revenue: Engineered Systems $ 671,534 $ 670,999 $ 2,046,149 $ 1,978,156 Fluids 690,065 638,068 2,011,829 1,868,965 Refrigeration & Food Equipment 386,214 438,788 1,126,215 1,221,926 Intra-segment eliminations (410 ) (80 ) (1,025 ) (691 ) Total consolidated revenue $ 1,747,403 $ 1,747,775 $ 5,183,168 $ 5,068,356 Earnings from continuing operations: Segment earnings: (1) Engineered Systems $ 108,714 $ 102,767 $ 337,429 $ 390,077 Fluids 101,207 103,052 261,583 261,689 Refrigeration & Food Equipment 42,434 65,413 122,988 164,804 Total segment earnings 252,355 271,232 722,000 816,570 Corporate expense / other (2) 30,207 30,843 91,020 102,943 Interest expense 31,192 35,372 98,957 108,585 Interest income (2,060 ) (1,759 ) (6,680 ) (6,669 ) Earnings before provision for income taxes and discontinued operations 193,016 206,776 538,703 611,711 Provision for income taxes 35,711 47,321 105,533 154,693 Earnings from continuing operations $ 157,305 $ 159,455 $ 433,170 $ 457,018 (1) Segment earnings includes non-operating income and expense directly attributable to the segments. Non-operating income and expense includes gain on sale of businesses and other (income) expense, net. (2) Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services costs and various administrative expenses relating to the corporate headquarters.

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Reconciliation of information used in computing basic and diluted earnings per share	The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Earnings from continuing operations $ 157,305 $ 159,455 $ 433,170 $ 457,018 Earnings (loss) from discontinued operations, net — 19,457 (4,472 ) 58,199 Net earnings $ 157,305 $ 178,912 $ 428,698 $ 515,217 Basic earnings (loss) per common share: Earnings from continuing operations $ 1.07 $ 1.02 $ 2.87 $ 2.94 Earnings (loss) from discontinued operations, net $ — $ 0.12 $ (0.03 ) $ 0.37 Net earnings $ 1.07 $ 1.15 $ 2.84 $ 3.31 Weighted average shares outstanding 147,344,000 155,757,000 151,177,000 155,668,000 Diluted earnings (loss) per common share: Earnings from continuing operations $ 1.05 $ 1.01 $ 2.82 $ 2.90 Earnings (loss) from discontinued operations, net $ — $ 0.12 $ (0.03 ) $ 0.37 Net earnings $ 1.05 $ 1.14 $ 2.79 $ 3.27 Weighted average shares outstanding 149,457,000 157,555,000 153,429,000 157,565,000
Reconciliation of share amounts used in computing earnings per share	The following table is a reconciliation of the share amounts used in computing earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Weighted average shares outstanding - Basic 147,344,000 155,757,000 151,177,000 155,668,000 Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs 2,113,000 1,798,000 2,252,000 1,897,000 Weighted average shares outstanding - Diluted 149,457,000 157,555,000 153,429,000 157,565,000

Spin-off of Apergy Corporatio_3

Spin-off of Apergy Corporation Spin-off of Apergy Corporation (Detail) € in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018EUR (€)	May 09, 2018USD ($)	Dec. 31, 2017USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and Cash Equivalents				$ 10,357
Current assets					$ 417,678
Total Assets of Discontinued Operations	$ 0				1,865,553
Current liabilities					156,921
Total Liabilities of Discontinued Operations	0				$ 264,253
Less: Cash received from Apergy Corporation	700,000
Cash received from Apergy, net of cash distributed	689,643	$ 0
Separation of Apergy	(906,815)
Stock repurchase program (dollar value of planned repurchases)	1,000,000
Apergy [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and Cash Equivalents				10,357
Current assets				462,620
Non-current assets				1,438,760
Total Assets of Discontinued Operations				1,911,737
Current liabilities				185,354
Noncurrent liabilities				119,568
Total Liabilities of Discontinued Operations				304,922
Net assets distributed to Apergy Corporation				1,606,815
Less: Cash received from Apergy Corporation	$ 700,000
Net distribution to Apergy Corporation				$ 906,815
Note due 2026 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt Instrument, Face Amount | €			€ 600,000
Debt Instrument, Interest Rate, Stated Percentage	1.25%		1.25%
Note due 2026 [Member] | Apergy [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt Instrument, Face Amount	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage	6.375%		6.375%
Debt Instrument, Unused Borrowing Capacity, Amount	$ 415,000
AOCI Attributable to Parent [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Separation of Apergy	$ 32,928

Revenue Disaggregation of Reven

Revenue Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 1,747,403	$ 1,747,775	$ 5,183,168	$ 5,068,356
United States
Disaggregation of Revenue [Line Items]
Revenues	922,261		2,707,470
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenues	369,479		1,158,891
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenues	219,645		633,280
Other Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues	166,182		467,523
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	69,836		216,004
Printing and Identification End Market [Member]
Disaggregation of Revenue [Line Items]
Revenues	283,232		865,588
Industrials End Market [Member]
Disaggregation of Revenue [Line Items]
Revenues	388,302		1,180,561
Engineered Systems Segment [Member]
Disaggregation of Revenue [Line Items]
Revenues	671,534	670,999	2,046,149	1,978,156
Fueling and Transport End Market [Member]
Disaggregation of Revenue [Line Items]
Revenues	367,617		1,050,276
Pumps End Market [Member]
Disaggregation of Revenue [Line Items]
Revenues	167,542		503,157
Process Solutions End Market [Member]
Disaggregation of Revenue [Line Items]
Revenues	154,906		458,396
Fluids Segment [Member]
Disaggregation of Revenue [Line Items]
Revenues	690,065	638,068	2,011,829	1,868,965
Refrigeration End Market [Member]
Disaggregation of Revenue [Line Items]
Revenues	328,281		937,168
Food Equipment End Market [Member]
Disaggregation of Revenue [Line Items]
Revenues	57,933		189,047
Refrigeration and Food Equipment Segment [Member]
Disaggregation of Revenue [Line Items]
Revenues	386,214	438,788	1,126,215	1,221,926
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ (410)	$ (80)	$ (1,025)	$ (691)

Revenue Performance Obligations

Revenue Performance Obligations (Details)	Sep. 30, 2018
Revenue from Contract with Customer Performance Obligations [Abstract]
Revenue, Performance Obligation Satisfied at Point in Time, Transfer of Control	95.00%
Revenue, Performance Obligation Satisfied at Over Time, Transfer of Control Percentage	5.00%

Revenue Remaining Performance O

Revenue Remaining Performance Obligation (Details) $ in Millions	Sep. 30, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 71.6
Revenue, Remaining Performance Obligation, Percentage	56.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year	2,019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year	2,020

Revenue Contract Balances (Deta

Revenue Contract Balances (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Jan. 01, 2018
Contract with Customer, Asset and Liability [Abstract]
Contract assets balance	$ 16,202	$ 11,932
Contract liability balance	52,692	58,184
Contract liabilities - current	43,075	48,268
Contract liabilities - non-current	9,617	$ 9,916
Change in Contract with Customer, Asset and Liability [Abstract]
Cumulative catch-up adjustment upon transition, asset	701
Changes in the estimate of the stage of completion	10,870
Transferred to receivables from contract assets recognized during the period	(7,255)
Contract with Customer, Asset, Other	(46)
Cumulative catch-up adjustment upon transition, liability	0
Revenue recognized that was included in the contract liability balance at the beginning of the period	(52,730)
Increases due to cash received, excluding amounts recognized as revenue during the period	47,880
Contract with Customer, Liability, Other	$ (642)

Acquisitions (Details)

Acquisitions (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018USD ($)$ / shares	Sep. 30, 2017USD ($)$ / shares	Sep. 30, 2018USD ($)$ / shares	Sep. 30, 2017USD ($)$ / shares	Dec. 31, 2017USD ($)Acquisitions
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired			$ 68,557	$ 25,568
Goodwill, Acquired During Period			46,895
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					$ 34,300
Number of Businesses Acquired | Acquisitions					2
Revenue [Abstract]
As reported	$ 1,747,403	$ 1,747,775	5,183,168	5,068,356
Pro forma	1,747,403	1,756,565	5,183,484	5,097,953
Net earnings [Abstract]
As reported	157,305	159,455	433,170	457,018
Pro forma	$ 157,097	$ 160,686	$ 436,811	$ 456,833
Basic earnings per share [Abstract]
As reported (in dollars per share) | $ / shares	$ 1.07	$ 1.02	$ 2.87	$ 2.94
Pro forma (in dollars per share) | $ / shares	1.07	1.03	2.89	2.93
Diluted earnings per share [Abstract]
As reported (in dollars per share) | $ / shares	1.05	1.01	2.82	2.90
Pro forma (in dollars per share) | $ / shares	$ 1.05	$ 1.02	$ 2.85	$ 2.90
Ettiingler [Member]
Business Acquisition [Line Items]
Business Combination, Acquisition of 100 Percent, Voting Rights			100.00%
Payments to Acquire Businesses, Net of Cash Acquired			$ 53,218
Goodwill, Acquired During Period			36,493
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 19,907		$ 19,907
Rosario [Member]
Business Acquisition [Line Items]
Business Combination, Acquisition of 100 Percent, Voting Rights			100.00%
Payments to Acquire Businesses, Net of Cash Acquired			$ 15,339
Goodwill, Acquired During Period			10,402
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 4,149		$ 4,149
Caldera Graphics [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired				$ 32,680
Goodwill, Acquired During Period				24,649
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 8,169		$ 8,169
Minimum [Member] | Ettiingler [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			8 years
Minimum [Member] | Rosario [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			10 years
Minimum [Member] | Caldera Graphics [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				7 years
Maximum [Member] | Ettiingler [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			15 years
Maximum [Member] | Caldera Graphics [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				15 years

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Spin-off Costs Incurred to Date	$ 0		$ 46,384	$ 1,721
Discontinued Operation, Revenue	0	$ 258,649	403,688	745,079
Discontinued Operation, Costs of Goods and Services	0	163,509	254,205	469,280
Discontinued Operation, Gross Profit	0	95,140	149,483	275,799
Discontinued Operation, Selling, General and Administrative Expense	0	64,170	144,114	186,517
Discontinued Operation, Operating Earnings	0	30,970	5,369	89,282
Discontinued Operation, Other Expense, Net	0	318	349	802
Discontinued Operation, Earnings from Discontinued Operations Before Taxes	0	30,652	5,020	88,480
Discontinued Operation, Provision for Income Taxes	0	11,195	9,492	30,281
Earnings (loss) from discontinued operations	0	19,457	(4,472)	58,199
Proceeds from sale of businesses			2,069	121,175
Gain on sale of business	0	$ 0	0	90,093
Discontinued Operation, Accounts Receivable					$ 202,052
Discontinued Operation, Inventory, Net					201,591
Discontinued Operation, Prepaid and Other Current Assets					14,035
Total Current Assets					417,678
Discontinued Operation, Property, Plant and Equipment, Net					211,832
Discontinued Operation, Goodwill and Intangible Assets, Net					1,232,843
Discontinued Operation, Other Assets and Deferred Charges					3,200
Total Assets of Discontinued Operations	0		0		1,865,553
Discontinued Operation, Accounts Payable					97,439
Discontinued Operation, Other Current Liabilities					59,482
Discontinued Operation, Current liabilities					156,921
Discontinued Operation, Deferred Income Taxes					90,641
Discontinued Operation, Other Liabilities					16,691
Total Liabilities of Discontinued Operations	$ 0		$ 0		$ 264,253
Performance Motorsports International [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Notes Receivable				10,000
Proceeds from sale of businesses				147,313
Proceeds from Divestiture of Businesses, Net of Cash Divested				118,706
Gain on sale of business				$ 88,402
Noncontrolling Interest		25.00%		25.00%
Noncontrolling Interest, Increase from Sale of Parent Equity Interest				$ 18,607
Tipper Tie [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of business				$ 1,691

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Inventory, Net [Abstract]
Raw materials	$ 409,217	$ 400,009
Work in progress	177,567	128,296
Finished goods	330,147	251,402
Subtotal	916,931	779,707
Less reserves	(112,950)	(102,664)
Total	$ 803,981	$ 677,043

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Cost	$ 2,127,675		$ 2,127,675		$ 2,044,819
Accumulated depreciation	(1,320,938)		(1,320,938)		(1,256,879)
Total	806,737		806,737		787,940
Depreciation expense	32,514	$ 34,663	97,625	$ 98,812
Land [Member]
Property, Plant and Equipment [Line Items]
Cost	54,060		54,060		54,918
Buildings and improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	523,624		523,624		517,049
Machinery, equipment and other [Member]
Property, Plant and Equipment [Line Items]
Cost	$ 1,549,991		$ 1,549,991		$ 1,472,852

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2017
Goodwill [Line Items]
Goodwill Reallocation Due to Apergy	$ 3,546
Goodwill Transferred to Apergy		$ 899,888
Goodwill [Roll Forward]
Goodwill Balance	3,719,598	3,719,598	$ 3,686,372
Goodwill, Acquired During Period	46,895
Purchase Price Adjustments	328
Foreign Currency Translation	(17,543)
Balance	3,719,598
Engineered Systems Segment [Member]
Goodwill [Line Items]
Goodwill Reallocation Due to Apergy	3,546
Goodwill [Roll Forward]
Goodwill Balance	1,642,780	1,642,780	1,645,389
Goodwill, Acquired During Period	0
Purchase Price Adjustments	328
Foreign Currency Translation	(6,483)
Balance	1,642,780
Fluids Segment [Member]
Goodwill [Line Items]
Goodwill Reallocation Due to Apergy	0
Goodwill [Roll Forward]
Goodwill Balance	1,530,150	1,530,150	1,504,284
Goodwill, Acquired During Period	36,493
Purchase Price Adjustments	0
Foreign Currency Translation	(10,627)
Balance	1,530,150
Refrigeration and Food Equipment Segment [Member]
Goodwill [Line Items]
Goodwill Reallocation Due to Apergy	0
Goodwill [Roll Forward]
Goodwill Balance	546,668	$ 546,668	$ 536,699
Goodwill, Acquired During Period	10,402
Purchase Price Adjustments	0
Foreign Currency Translation	(433)
Balance	$ 546,668

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Intangible Assets and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 2,083,106		$ 2,083,106		$ 2,063,100
Accumulated amortization	984,026		984,026		877,276
Finite-Lived Intangible Assets, Net	1,099,080		1,099,080		1,185,824
Indefinite-lived Intangible Assets (Excluding Goodwill)	96,770		96,770		96,800
Intangible Assets, Gross (Excluding Goodwill)	2,179,876		2,179,876		2,159,900
Intangible assets, net	1,195,850		1,195,850		1,282,624
Amortization expense	35,576	$ 37,870	108,393	$ 113,349
Acquisition-related amortization expense	35,258	$ 37,324	107,092	$ 111,722
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	0		0		0
Indefinite-lived Intangible Assets (Excluding Goodwill)	96,770		96,770		96,800
Customer Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,416,686		1,416,686		1,405,361
Accumulated amortization	628,959		628,959		559,447
Finite-Lived Intangible Assets, Net	787,727		787,727		845,914
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	217,289		217,289		217,621
Accumulated amortization	69,224		69,224		58,523
Finite-Lived Intangible Assets, Net	148,065		148,065		159,098
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	145,357		145,357		145,577
Accumulated amortization	127,590		127,590		123,135
Finite-Lived Intangible Assets, Net	17,767		17,767		22,442
Unpatented Technologies [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	157,394		157,394		152,913
Accumulated amortization	82,670		82,670		71,284
Finite-Lived Intangible Assets, Net	74,724		74,724		81,629
Distributor Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	85,202		85,202		85,794
Accumulated amortization	36,874		36,874		32,092
Finite-Lived Intangible Assets, Net	48,328		48,328		53,702
Drawings and Manuals [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	32,832		32,832		32,739
Accumulated amortization	23,175		23,175		20,767
Finite-Lived Intangible Assets, Net	9,657		9,657		11,972
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	28,346		28,346		23,095
Accumulated amortization	15,534		15,534		12,028
Finite-Lived Intangible Assets, Net	$ 12,812		$ 12,812		$ 11,067

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Indefinite-lived Intangibles (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Unamortized Intangible Assets [Abstract]
Gross carrying amount	$ 96,770	$ 96,800
Trademarks [Member]
Unamortized Intangible Assets [Abstract]
Gross carrying amount	$ 96,770	$ 96,800

Restructuring Activities (Detai

Restructuring Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 24,201	$ 4,514	$ 36,423	$ 12,364
Restructuring and Related Cost, Expected Cost	39,000		39,000
Restructuring Reserve [Roll Forward]
Severance and other restructuring reserve, beginning balance			31,272
Provision			36,423
Payments			(38,583)
Other, including write-offs of fixed assets			(1,222)
Severance and other restructuring reserve, ending balance	27,890		27,890
Engineered Systems Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10,637	926	13,872	2,744
Fluids Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10,473	2,403	16,021	6,910
Refrigeration and Food Equipment Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	452	1,185	598	2,710
Corporate, Non-Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,639	0	5,932	0
Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Severance and other restructuring reserve, beginning balance			25,681
Provision			31,786
Payments			(31,100)
Other, including write-offs of fixed assets			934
Severance and other restructuring reserve, ending balance	25,433		25,433
Facility Closing [Member]
Restructuring Reserve [Roll Forward]
Severance and other restructuring reserve, beginning balance			5,591
Provision			4,637
Payments			(7,483)
Other, including write-offs of fixed assets			288
Severance and other restructuring reserve, ending balance	2,457		2,457
Rightsizing Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	24,201		34,058
Restructuring and Related Cost, Expected Cost	18,000		18,000
Restructuring Reserve [Roll Forward]
Provision	21,000
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,586	1,840	7,985	6,075
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 20,615	$ 2,674	$ 28,438	$ 6,289

Borrowings (Details)

Borrowings (Details) € in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2018EUR (€)	Dec. 31, 2017USD ($)
Short-term borrowings [Abstract]
Current poriton of long-term debt and short-term borrowings	$ 59		$ 350,402
Commercial Paper	298,600		230,700
Notes payable and current maturities of long-term debt	298,659		581,102
Long-term borrowings [Abstract]
Long-term debt	2,981,923		3,336,713
Long-term debt current portion	0		350,011
Net long-term debt	2,981,923		2,986,702
Unamortized debt discounts	16,400		17,600
Deferred debt issuance costs	13,500		14,900
Line of Credit Facility [Abstract]
Unsecured revolving credit facility, maximum borrowing capacity	$ 1,000,000
Line of Credit Facility, Covenant Compliance	The Company was in compliance with all covenants in the Credit Agreement and other long-term debt covenants at September 30, 2018 and had a coverage ratio of 10.2 to 1.0.
Letters of Credit Outstanding, Amount	$ 142,300
Credit Agreement [Member]
Line of Credit Facility [Abstract]
Line of Credit Facility, Expiration Date	Nov. 10, 2020
Note due 2018 [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 0		349,918
Debt Instrument, Face Amount	$ 350,000
Debt instruments, maturity date	Mar. 15, 2018
Debt Instrument, Interest Rate, Stated Percentage	5.45%	5.45%
Debt Instrument, Term	10 years
Note due 2020 [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 352,119		354,349
Debt Instrument, Face Amount | €		€ 300,000
Debt instruments, maturity date	Dec. 1, 2020
Debt Instrument, Interest Rate, Stated Percentage	2.125%	2.125%
Debt Instrument, Term	7 years
Note due 2021 [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 449,108		448,831
Debt Instrument, Face Amount	$ 450,000
Debt instruments, maturity date	Mar. 1, 2021
Debt Instrument, Interest Rate, Stated Percentage	4.30%	4.30%
Debt Instrument, Term	10 years
Note due 2025 [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 395,200		394,695
Debt Instrument, Face Amount	$ 400,000
Debt instruments, maturity date	Nov. 15, 2025
Debt Instrument, Interest Rate, Stated Percentage	3.15%	3.15%
Debt Instrument, Term	10 years
Note due 2026 [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 696,793		701,058
Debt Instrument, Face Amount | €		€ 600,000
Debt instruments, maturity date	Nov. 9, 2026
Debt Instrument, Interest Rate, Stated Percentage	1.25%	1.25%
Debt Instrument, Term	10 years
Debentures due 2028 [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 199,029		198,954
Debt Instrument, Face Amount	$ 200,000
Debt instruments, maturity date	Jun. 1, 2028
Debt Instrument, Interest Rate, Stated Percentage	6.65%	6.65%
Debt Instrument, Term	30 years
Debenture due 2035 [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 295,748		295,561
Debt Instrument, Face Amount	$ 300,000
Debt instruments, maturity date	Oct. 15, 2035
Debt Instrument, Interest Rate, Stated Percentage	5.375%	5.375%
Debt Instrument, Term	30 years
Note due 2038 [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 247,798		247,713
Debt Instrument, Face Amount	$ 250,000
Debt instruments, maturity date	Mar. 15, 2038
Debt Instrument, Interest Rate, Stated Percentage	6.60%	6.60%
Debt Instrument, Term	30 years
Note due 2041 [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 343,808		343,600
Debt Instrument, Face Amount	$ 350,000
Debt instruments, maturity date	Mar. 1, 2041
Debt Instrument, Interest Rate, Stated Percentage	5.375%	5.375%
Debt Instrument, Term	30 years
Other long term debt instruments [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 2,320		$ 2,034
Minimum [Member]
Line of Credit Facility [Abstract]
Line of Credit Facility, Expiration Date	Jan. 1, 2018
Maximum [Member]
Line of Credit Facility [Abstract]
Line of Credit Facility, Expiration Date	Jan. 1, 2028

Financial Instruments (Details)

Financial Instruments (Details) € in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018EUR (€)	Dec. 31, 2017USD ($)
Derivatives, Fair Value [Line Items]
(Loss) gain on euro-denominated debt	$ (6,155)	$ (58,419)	$ 7,734	$ (124,258)
Tax benefit (expense)	1,293	20,446	(1,624)	43,490
Net (loss) gain on net investment hedge, net of tax	(4,862)	$ (37,973)	6,110	$ (80,768)
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	205,850		205,850			$ 115,580
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	98,008		98,008			59,952
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair Value - Asset	3,158		3,158			358
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Other Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Fair Value - Liability	$ 1,456		$ 1,456			$ 2,243
Note due 2026 [Member]
Derivatives, Fair Value [Line Items]
Debt Instrument, Face Amount | €					€ 600,000
Note due 2026 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Debt Instrument, Face Amount | €					600,000
Note due 2020 [Member]
Derivatives, Fair Value [Line Items]
Debt Instrument, Face Amount | €					300,000
Note due 2020 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Debt Instrument, Face Amount | €					€ 300,000

Financial Instruments - Balance

Financial Instruments - Balance Sheet Location (Details) - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets [Abstract]
Foreign currency cash flow hedges - asset	$ 3,158	$ 358
Liabilities [Abstract]
Foreign currency cash flow hedges - liability	$ 1,456	$ 2,243

Financial Instruments - Fair V

Financial Instruments - Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 2,981,923	$ 2,986,702
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	3,162,629	3,324,776
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency cash flow hedges - asset	3,158	358
Foreign currency cash flow hedges - liability	$ (1,456)	$ (2,243)

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Effective tax rate (in hundredths)	18.50%	22.90%	19.60%	25.30%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	35.00%	21.00%	21.00%	35.00%	35.00%
Effective Income Tax Rate Reconciliation, Tax Settlement, Domestic, Amount			$ 1,300,000
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent			0.20%
Minimum [Member]
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, lower bound	$ 0		$ 0
Maximum [Member]
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, lower bound	$ 10,600,000		$ 10,600,000

Equity Incentive Program (Detai

Equity Incentive Program (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Stock-based compensation expense [Abstract]
Pre-tax stock-based compensation expense	$ 5,443	$ 3,670	$ 15,846	$ 19,878
Tax benefit	(1,207)	(1,207)	(3,520)	(6,953)
Total stock-based compensation expense, net of tax	4,236	2,463	$ 12,326	$ 12,925
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)			757,603
Additional equity awards issued due to modification			1,138,008
Risk-free interest rate (in hundredths)				1.80%
Dividend yield (in hundredths)				2.27%
Expected life (in years)				4 years 7 months
Volatility (in hundredths)				21.90%
Grant price (in dollars per share)				$ 66.84
Fair value at date of grant (in dollars per share)				10.65
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)			284,721
Additional equity awards issued due to modification			47,063
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)			122,459
Additional equity awards issued due to modification			26,316
Fair value at date of grant (in dollars per share)				$ 66.84
Performance share attainment			206.59%	185.07%
Minimum [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (in hundredths)			2.58%
Dividend yield (in hundredths)			1.99%
Expected life (in years)			5 years 7 months
Volatility (in hundredths)			20.95%
Grant price (in dollars per share)			$ 79.75
Fair value at date of grant (in dollars per share)			14.58
Minimum [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at date of grant (in dollars per share)			$ 79.75
Maximum [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (in hundredths)			2.87%
Dividend yield (in hundredths)			2.43%
Expected life (in years)			5 years 8 months
Volatility (in hundredths)			21.20%
Grant price (in dollars per share)			$ 82.08
Fair value at date of grant (in dollars per share)			15.41
Maximum [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at date of grant (in dollars per share)			$ 82.08
Discontinuing Operations [Member]
Stock-based compensation expense [Abstract]
Total stock-based compensation expense, net of tax	$ 0	$ 671	$ 744	$ 1,932

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Accrual for environmental loss contingencies	$ 30,893		$ 34,991
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	59,403	$ 80,331
Provision for warranties	46,076	48,489
Settlements made	(50,110)	(54,618)
Other adjustments, including acquisitions and currency translation	(770)	823
Ending balance	$ 54,599	$ 75,025

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	4.20%		4.20%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets			6.80%
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment	$ 200
Net periodic benefit cost [Abstract]
Total amount amortized out of accumulated other comprehensive income	1,407	$ 3,049	$ 7,765	$ 9,071
Defined contribution plan expense	8,649	7,521	27,500	25,632
U.S. Pension Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Service cost	1,861	3,021	7,148	9,063
Interest cost	5,236	5,429	15,491	16,288
Expected return on plan assets	(9,518)	(9,953)	(29,474)	(29,859)
Prior service cost (credit)	69	107	495	320
Recognized actuarial loss	150	1,396	2,951	4,187
Transition obligation	0	0	0	0
Net periodic (income)/expense	(2,202)	0	(3,389)	(1)
Foreign Pension Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Service cost	1,054	1,399	4,165	4,059
Interest cost	1,098	1,332	3,819	3,881
Expected return on plan assets	(1,710)	(1,885)	(5,838)	(5,522)
Prior service cost (credit)	(112)	(115)	(338)	(337)
Recognized actuarial loss	673	894	2,258	2,599
Transition obligation	0	1	2	3
Net periodic (income)/expense	1,003	1,626	4,068	4,683
Supplemental Employee Retirement Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Service cost	635	619	1,990	1,855
Interest cost	751	1,019	2,452	3,057
Prior service cost (credit)	931	1,103	3,245	3,308
Recognized actuarial loss	(298)	(298)	(834)	(894)
Net periodic (income)/expense	2,019	2,443	6,853	7,326
Post-Retirement Benefits [Member]
Net periodic benefit cost [Abstract]
Service cost	8	8	23	25
Interest cost	73	74	218	220
Prior service cost (credit)	3	2	10	6
Recognized actuarial loss	(8)	(41)	(23)	(121)
Net periodic (income)/expense	76	43	228	130
Discontinued Operations [Member] | U.S. Pension Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Net periodic (income)/expense	0	846	950	2,537
Discontinued Operations [Member] | Foreign Pension Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Net periodic (income)/expense	0	203	247	608
Discontinued Operations [Member] | Supplemental Employee Retirement Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Net periodic (income)/expense	0	307	351	920
Continuing Operations [Member] | U.S. Pension Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Net periodic (income)/expense	(2,202)	(846)	(4,339)	(2,538)
Continuing Operations [Member] | Foreign Pension Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Net periodic (income)/expense	1,003	1,423	3,821	4,075
Continuing Operations [Member] | Supplemental Employee Retirement Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Net periodic (income)/expense	$ 2,019	$ 2,136	$ 6,502	$ 6,406

Other Comprehensive Earnings (D

Other Comprehensive Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Foreign currency translation adjustments [Abstract]
Foreign currency translation adjustments, before tax	$ (14,860)	$ 72,823	$ (24,794)	$ 119,725
Foreign currency translation adjustments, tax	1,293	20,446	(1,624)	43,490
Total foreign currency translation adjustment	(13,567)	93,269	(26,418)	163,215
Pension and other postretirement benefit plans [Abstract]
Pension and other postretirement benefit plans, before tax	1,407	3,049	7,765	9,071
Pension and other postretirement benefit plans, tax	(301)	(974)	(1,657)	(2,901)
Total pension and other postretirement benefit plans	1,106	2,075	6,108	6,170
Changes in fair value of cash flow hedges [Abstract]
Changes in fair value of cash flow hedges, before tax	(1,374)	(712)	2,116	(3,566)
Changes in fair value of cash flow hedges, tax	289	249	(444)	1,248
Total cash flow hedges	(1,085)	(463)	1,672	(2,318)
Other comprehensive earnings other adjustment, net of tax [Abstract]
Other, before tax	0	309	0	35
Other, tax	0	(37)	0	(4)
Other comprehensive income loss other adjustment, net of tax	0	272	0	31
Total other comprehensive earnings [Abstract]
Other comprehensive earnings (loss), before Tax	(14,827)	75,469	(14,913)	125,265
Other comprehensive earnings (loss), tax	1,281	19,684	(3,725)	41,833
Other comprehensive (loss) earnings	(13,546)	95,153	(18,638)	167,098
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net earnings	157,305	178,912	428,698	515,217
Other comprehensive earnings (loss)	(13,546)	95,153	(18,638)	167,098
Comprehensive earnings	143,759	274,065	410,060	682,315
Other Comprehensive Income Loss Reclassification Adjustment from AOCI Foreign Currency Translation Net of Tax [Abstract]
Reclassification of foreign currency translation losses to earnings upon sale of subsidiary	0	0	0	(3,875)
Tax benefit	0	0	0	0
Net of tax	0	0	0	3,875
Other Comprehensive Income Loss Reclassification Adjustment From AOCI Pension And Other Postretirement Benefit Plans Net Of Tax Abstract [Abstract]
Amortization of actuarial losses	517	1,951	4,354	5,771
Amortization of prior service costs	890	1,098	3,411	3,300
Total before tax	1,407	3,049	7,765	9,071
Tax (benefit) provision	(301)	(974)	(1,657)	(2,901)
Net of tax	1,106	2,075	6,108	6,170
Other Comprehensive Income Loss Reclassification Adjustment From AOCI Derivatives Net of Tax [Abstract]
Net (gains) losses reclassified into earnings	460	(417)	(439)	(506)
Tax expense (benefit)	(96)	146	92	177
Net of tax	$ 364	$ (271)	$ (347)	$ (329)

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)segments	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Segment Reporting Information [Line Items]
Spin-off Costs Incurred to Date	$ 0		$ 46,384	$ 1,721
Number of reportable segments | segments	3
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenues	$ 1,747,403	$ 1,747,775	5,183,168	5,068,356
Interest Expense	31,192	35,372	98,957	108,585
Interest Income	(2,060)	(1,759)	(6,680)	(6,669)
Earnings before provision for income taxes	193,016	206,776	538,703	611,711
Provision for income taxes	35,711	47,321	105,533	154,693
Earnings from continuing operations	157,305	159,455	433,170	457,018
Engineered Systems Segment [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenues	671,534	670,999	2,046,149	1,978,156
Earnings before provision for income taxes	108,714	102,767	337,429	390,077
Fluids Segment [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenues	690,065	638,068	2,011,829	1,868,965
Earnings before provision for income taxes	101,207	103,052	261,583	261,689
Refrigeration and Food Equipment Segment [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenues	386,214	438,788	1,126,215	1,221,926
Earnings before provision for income taxes	42,434	65,413	122,988	164,804
Intersegment Eliminations [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenues	(410)	(80)	(1,025)	(691)
Total segments [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Earnings before provision for income taxes	252,355	271,232	722,000	816,570
Corporate expense / other [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Earnings before provision for income taxes	$ 30,207	$ 30,843	$ 91,020	$ 102,943

Share Repurchases (Details)

Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
Share Repurchases [Line Items]
Purchase of common stock		$ 892,771	$ 0
Accelerated Share Repurchases, Settlement (Payment) or Receipt		700,000
Expected Share Repurchase in November 2017		$ 1,000,000
January 2015 Authorization [Member]
Share Repurchases [Line Items]
Share repurchases		440,608	0
Purchase of common stock		$ 44,977
Treasury Stock Acquired, Average Cost Per Share		$ 102.08
Remaining number of shares authorized to be repurchased		5,271,168
February 2018 Authorization [Member]
Share Repurchases [Line Items]
Number of shares authorized to be repurchased		20,000,000
Share repurchases	7,078,751	1,729,048
Purchase of common stock		$ 147,793
Treasury Stock Acquired, Average Cost Per Share		$ 85.48
Remaining number of shares authorized to be repurchased		11,192,201

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings from continuing operations (in dollars per diluted share)	$ 1.05	$ 1.01	$ 2.82	$ 2.90
Earnings (loss) per share from discontinued operations (in dollars per diluted share)	$ 0	$ 0.12	$ (0.03)	$ 0.37
Earnings from continuing operations	$ 157,305	$ 159,455	$ 433,170	$ 457,018
Earnings (loss) from discontinued operations	0	19,457	(4,472)	58,199
Reconciliation of information used in computing basic and diluted earnings per share [Abstract]
Net earnings	$ 157,305	$ 178,912	$ 428,698	$ 515,217
Basic earnings (loss) per common share:
Net earnings (in dollars per basic share)	$ 1.07	$ 1.15	$ 2.84	$ 3.31
Weighted average shares outstanding - basic (in shares)	147,344,000	155,757,000	151,177,000	155,668,000
Diluted earnings (loss) per common share:
Net earnings (in dollars per diluted share)	$ 1.05	$ 1.14	$ 2.79	$ 3.27
Weighted average shares outstanding - diluted (in shares)	149,457,000	157,555,000	153,429,000	157,565,000
Reconciliation Of Share Amounts Used In Computing Earnings Per Share [Abstract]
Weighted average shares outstanding - basic (in shares)	147,344,000	155,757,000	151,177,000	155,668,000
Dilutive effect of assumed exercise of SAR's and vesting of performance shares (in shares)	2,113,000	1,798,000	2,252,000	1,897,000
Weighted average shares outstanding - diluted (in shares)	149,457,000	157,555,000	153,429,000	157,565,000
Antidilutive securities excluded from computation of earnings per share	10,000	87,000	1,000	37,000
Earnings from continuing operations (in dollars per basic share)	$ 1.07	$ 1.02	$ 2.87	$ 2.94
Earnings (loss) per share from discontinued operations (in dollars per basic share)	$ 0	$ 0.12	$ (0.03)	$ 0.37

Recent Accounting Standards Rec

Recent Accounting Standards Recent Accounting Standards (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	35.00%	21.00%	21.00%	35.00%	35.00%
Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 0		$ 0
Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net Periodic Benefit Cost, Non-Service Components	2,700		5,600	$ 3,700
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption	175		175
Retained Earnings | Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption	12,856		12,856
Retained Earnings | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 175		$ 175